“How to pay Tala” and “How to check Fuliza limit” dominated ‘how to’ search trends on Google in August, underlining the growing appetite for mobile loans in Kenya.
“How to pay NHIF via M-Pesa” was third.
The searches for Tala and Fuliza come as a report by analysts Standard Investment Bank indicated that in the first six months of the year, Safaricom customers had borrowed Sh81 billion.
Additionally, data from the 2019 FinAccess Household surveys shows that at 79.4 percent and 8.3 percent, mobile cash service providers and digital loan apps recorded the highest rise in usage by Kenyans.
“Strong growth in uptake of digital apps loans from 0.6 percent in 2016 to 8.3 percent in 2019 indicates the role unregulated service providers are playing in financial services space,” reads the FSD report.
How to track lost phone was also a top search in the segment.