Banks hog 93pc of mobile loans, shun younger borrowers

An M-Pesa agent. The platform has spurred mobile loans growth. FILE PHOTO | NMG

Borrowers aged between 30 and 40 control more than a third of fast-growing mobile loans that a new survey shows are largely controlled by banks.

A survey by Creditinfo CRB Kenya Ltd, one of the three credit reference bureaus, shows borrowers in the age bracket accounted for 31 percent of 19.1 million mobile loans dished out between November 2018 and April 2019.

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Note: The results are not exact but very close to the actual.