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MTN clients borrowed Shs435b  in mobile money loans in 2020


MTN clients borrowed Shs435b  in mobile money loans in 2020
Monday April 19 2021
The appetite for mobile money micro credit has been growing since it was established in 2016. PHOTO | FILE
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MTN subscribers borrowed about Shs435b in mobile money loans during the period ended 2020, pointing to the increased appetite for short term credit.
In 2016, MTN launched Mokash, a micro lending platform, in which it operates in partnership with Commercial Bank of Africa (CBA) as the lead financier to extend credit to customers through mobile money.
The bank, which has since changed to NCBA, according to MTN, disbursed 4.7 million mobile loans in 2020, with each attracting a 9 per cent interest.  ....

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