Mobile lending grows in tapping unbanked

Mr Eddie Ndichu, Managing Director of Opera in Africa. file PHOTO | NMG

Tech companies and banks are turning to mobile for micro lending, cashing in on the unbanked to push products and services.

Barclays Bank of Kenya #ticker:BBK this month launched its Timiza, offering loans between Sh100 and Sh150,000. This comes barely a fortnight after tech firm Opera piloted its Okash mobile application that will offer loans of up to Sh500,000.

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