Over seven million subscribers are now using Kenyan mobile operator Safaricom’s microfinance platform M-Shwari, according to George Ndegwa from the operator’s financial services division. Ndegwa was speaking at the 2014 Mobile Money and Digital Payments conference that kicked off in Johannesburg, South Africa yesterday. M-Shwari allows users to make use of the M-Pesa system to
The Commercial Bank of Africa and leading integrated communications services provider Safaricom have announced plans to increase the number of M-Shwari customers in the coming months. The two organisations aspire to grow the number of people using the revolutionary service that allows them to save and borrow loans against their savings, from the current 6
Airtel Kenya is set to launch a mobile loans service to challenge Safaricom’s M-Shwari, more than a year after a partner sued Safaricom for allegedly stealing the idea. Airtel originally partnered with microfinance firm Faulu Kenya in May 2012 to launch Kopa Chapaa, aimed at advancing loans facilities via mobile phones, with Safaricom launching M-Shwari
