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Loans by digital lenders nearly double to Sh55.2bn
The tenure of loans issued by the digital lenders is usually short, with most of their debt repayable within 60 days, allowing investors to use low capital to grow their books.
Loans issued by Digital Credit Providers (DCP) nearly doubled last year, signaling increased reliance on debt by households to meet daily needs.
Disclosures by the Central Bank of Kenya (CBK) show that Kenyans had borrowed Sh55.2 billion from DCPs as at the end of December 2024, up from Sh28.9 billion a year earlier, translating to a 91 percent increase.
