Consumption Rather Than Investment the Main Driver for Digital Loans Appetite

ByCarol Mwangi

In an economic climate where job creation remains sluggish and household incomes are stretched thin, digital loans have become an indispensable cushion for millions of Kenyans. This reliance has fuelled massive growth in the fintech sector. Industry data from the Digital Financial Services Association of Kenya (DFSAK) reveals an eye-watering average of Kshs 500 million…

The Hidden Cost of Convenience: What Every Kenyan Must Watch Out for When Taking Digital Loans

ByCarol Mwangi

The Silent Spiral James, a 29-year-old boda boda rider in Nairobi, took his first mobile loan to repair his motorcycle. It was quick. Convenient. Lifesaving. A month later, he took another loan—from a different app—to cover school fees. Then another—to repay the first. Within six months, James wasn’t borrowing for growth anymore. He was borrowing…