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Big Future for Fintech and Micro lenders

Mostly serve low income earners and people underserved by formal financial sector.

Offer flexible products designed for maximum inclusivity – attractive products that can pool low income earners and thereby effectively reduce cost of serving them.

Micro lenders are growing in Kenya both in number and size of portfolio.

  • Mshwari – Partnership between Safaricom and CBA Bank
  • Branch
  • Tala
  • Jisort
  • Haraka
  • among others

Micro lenders are mostly serving a segment that is high underserved – low income earners and a few middle income earners – banks have never been interested in this group.

With success of micro lender platform, banks have changed their tone with many of them scrambling to launch micro lending service – including the mighty Barclays Bank.

Micro lenders and Fintech are now challenging banks who are the least innovative businesses.

The future of innovative fintechs is BIG – those without banks accounts bank with fintechs, those with bank accounts want to be unbanked.

 

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