M-Kesho – Microloans in Kenya via Phone

After revolutionizing payments in East Africa with it’s M-Pesa service, Safaricom has now introduced M-Kesho. Want a loan? No need to go to a bank. All the 9.8 million M-Pesa users need to show to be eligible for a loan is 6 month history of M-Pesa transactions. Loan amounts go up to equivalents of about 50 US$.

(Source: Businessdailyafrica.com)

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