M-Shwari shifts loans of below Sh2,000 to Fuliza

Borrowers pay a facility fee of 7.5 per cent when taking the M-Shwari loans, amounting to an annualised interest rate of 90 per cent. FILE PHOTO | NMG

NCBA #ticker:NCBA and Safaricom #ticker:SCOM have raised the minimum loan size on the mobile lending platform M-Shwari four times to Sh2,000 in a move expected to reduce defaults largely by borrowers taking smaller amounts.

Borrowers have been accessing a minimum of Sh500, through M-Pesa, on the M-Shwari platform.

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