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M-Shwari lifts CBA above Equity in loan accounts
From left: Safaricom CEO Bob Collymore, Commercial Bank of Africa managing director for Kenya operations Jeremy Ngunze and Betty Mwangi Thuo, general manager, Safaricom Business, during the launch of a promotion for the M-Shwari mobile banking platform in February this year. Photo/FILE
Commercial Bank of Africa (CBA) has overtaken Equity Bank as the lender with the highest number of loan accounts buoyed by the growing number of subscribers to its mobile money platform, M-Shwari.
CBA’s loan accounts grew to 897,000 last year up from 89,000 in 2012, placing it ahead of Equity Bank, which closed the year with 840,000 borrowers.
