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The Top 8 money lending platforms and apps in Kenya in 2022



Mobile lending apps and sites are truly growing, thus giving banks and  giving SACCOs stiff competition.

 Borrowing money from mobile lending platforms has been made straightforward.

You only download the apps, go to their websites or send an SMS to fill out application forms with your details, get approval, and voila, you get your credit on your phone.

All this is done at the comfort of your couch as opposed to long queues,   filling out numerous forms, and even demanding collateral and guarantors.

All those requirements are challenging to be met, and it takes hours before your loan is processed.

Sometimes the need is urgent, and delays can cause harm. Here is a list of the eight best money lending apps and platforms to apply for loans.


You will instantly fall in love with the money lending app when you begin using it; Zenka has incredible loan offers with growing loan limits when you repay on time. 

You can get the zenka app on your android phone in the google play store,  download and install it.

You receive your loan after 5 minutes, and this is only after filling out the application form and having qualified.

You can also apply for a loan with zenka using their shortcode *841# after sending your mpesa statements of the past six months to them.

2.Mshwari by Safaricom 

It’s the most widely used mobile loan service in Kenya because most of its users are Safaricom subscribers.

We all know Safaricom is the leading telecommunication service provider in Kenya; not only is it a lending app, but it also offers its customers an opportunity to save their money.

When saved, customers earn an interest of 6.65%interest per year.

You get to access a loan of 100  minimum. Your limit grows based on your credit repayment history.

3.KCB Mpesa 

A money lending service that has collaborated with Safaricom, although it’s owned by Kenya commercial bank.

KCB mpesa can only be accessed through the mpesa menu on your phone, and that’s why a registered Safaricom line is recommended.

KCB  Mpesa also allows you to save, thus automatically making you eligible to borrow more 


This is an app that is easily found on the google play store you download, install and register.

This is a money lending app that offers personal and business loans that can amount to 60000.

They determine your credit score regarding the personal details you have given and your credit score and the period within which you have to pay.

The only downside with this app is the 14%  interest you have to pay when repaying your interest.

The credit comes instantly, so it will solve your cash needs. 



This is truly the most accessible money lending app to have; all you have to do is download it from the google play store.

Register with your personal information, this information is always verified, and you get your loan after a few minutes.

The process is swift. In repaying your credit, your loan installments come from the Mpesa account automatically no stress about paybill numbers, and this is only when your repayment is due.


The growing money lending app in Kenya and even outside the country has existed for the longest time. This app gives you a loan of even 70000  on your mobile phone.

It is easy to access branch loans; all you have to do is download the app from the google play store register by giving out your details, and your loan is approved in less than 24 hours and with no hidden fees.

This lender does not charge a fee when you are late in repaying, and that’s why it has many users.


The app is easily found on the google play store. After downloading it, you can sign up and start accessing their quick mobile loans.

You must give your details for your account to get verified; this is like your digital credit history.

With your Tala app, you can check out your credit performance or status. In terms of repayments, you can make partial payments like weekly or pay at once.

8Fuliza by Safaricom

It is a money lending service by Safaricom. With fuliza, your limits grow faster depending on settling your loan and transactions.

You can easily apply for your fuliza loan by dialing *234# to register, and you can get to use cash from your mpesa without making a deposit.

Repaying a fuliza loan is simply by making a deposit cash in your mpesa account or, if someone sends money to your phone, the loan is settled, and you can apply for a new one.


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Those mobile lending platforms are excellent, but you should carefully review them yourself to avoid encountering scammers.

Some apps or platforms are not genuine the can be used to obtain essential and private information from you.

Only take a loan when you need for it.

Defaulting loans can destroy your credit score. 

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Three Global Firms Signed By Nairobi Financial Hub On Its Launch




Three companies were signed by Nairobi’s international financial centre on the day of its launch. The three include Prudential plc, ARC Ride Kenya and AirCarbon Exchange (ACX).

The Nairobi International Financial Centre (NIFC) is a special economic zone for financial firms.

Prudential, one of the world’s biggest insurers and asset managers, became the first firm to formally join the NIFC.

Singapore-based global carbon exchange ACX came along with Prudential. It seeks to set up a carbon exchange in Kenya.

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NIFC has also admitted ARC Ride Kenya. It is a new start-up that is going to establish an electric vehicle assembly plant in Nairobi. The plant will produce two and three-wheeled electric bikes and scooters.

Also, the Financial Centre is determined to bolster the manufacturing sector in the country. It has signed an MoU with the Kenya Association of Manufacturers (KAM), to help increase financing and investment in the sector.

NIFC authority has hinted at being in discussion with other participants seeking to join it and will give official news soon.

“Last year Prudential Plc, one of the world’s biggest insurers and asset managers, made a commitment to relocating their Africa headquarters from London to Nairobi and join the Centre. Today we are proud to announce that Prudential becomes the first firm to formally join the Nairobi International Financial Centre,” Vincent Rague, Chairman NIFC Authority.

After many years of waiting, the hub will eye large foreign firms, boosting capital flows to Kenya and the region.

The authority has singled-out four sectors that it will prioritise for growth: financial technology, green finance, investment funds, and becoming a hub for regional multinationals.

The NIFC general regulations have been enacted, as the initial set of tax incentive proposals have been passed.

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Certification from the NIFC Authority must be applied by Firms considering conducting business through the NIFC.

A 15% corporate tax will benefit firms operating a carbon market exchange or emission trading system under the NIFC. The 15% advantage will happen for the first 10 years of operation.

Companies certified by the NIFC Authority and have invested a minimum of Sh5 billion will benefit from the certainty that, the Capital Gains Tax applicable at the time they make their investments will remain unchanged during the lifetime of the investments.

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Hackers Make Tactical Change, Now Targeting Small Businesses




Traditionally, cybercriminals have been targeting big companies with aim of demanding ransoms running into millions. Nonetheless, the trend no longer holds, as new studies have shown the shift in hackers’ interest from big companies to small and medium ones.

Studies have shown that hackers are shifting their focus to small online businesses which they believe are more vulnerable.

Experts have warned that these SMEs and payment portals, especially those relying on mobile payment solutions, are now facing high risks of cyber attacks coordinated by these hackers.

Speaking during the inaugural Africa Cybersecurity Congress held in Nairobi, Hadi Maeleb, Agora Group co-founder and CEO said the threats to online businesses were growing at a high rate.

Further, he stated that more than 90% of business owners are unaware that their enterprises are at risk, despite the high growth rate of the attacks.

“Cybercriminals are now targeting small businesses more as they have realized that these enterprises do believe they would be exposed due to their comparatively low turnovers until they lose their data and payments are compromised,” said Mr Maeleb.

With the adoption of e-commerce platforms, State agencies, financial institutions, healthcare, energy and utilities have persistently faced cyber-attacks in the recent past.

According to CAK- Communications Authority of Kenya’s first-quarter data (between January to March 2022), a total of 79.2 million cyber-attacks were reported. This has prompted the government to issue 28,848 advisories in an attempt to fight the rising attacks.

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Mr Maeleb noted that business owners should invest in cybersecurity tools as there is no magical solution to cybercrime.

“This ‘democratization’ of cyberattacks is expected to push losses due to business interruption, financial theft, personal data breaches and even ransom payments over the Sh4 trillion mark by end of 2022,” he said.

At the peak of the pandemic, several states adopted tough lockdown measures such as social distancing, working from home, and online learning.

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Hackers shifting focus to small businesses.

This adoption of digital solutions such as e-commerce, remote working and banking went up as Kenyans turned to online platforms to curb the spread of the coronavirus.

“Unfortunately for them, the business of cybercrime has evolved to a point where attacks like ransomware are now sold as a service,” he added.

Even though these measures triggered the adoption of digital platforms, they also increased vulnerability such as ransom, data breaches, harassment, cyberbullying, and data breaches.

Kenya’s ICT Policy which came into effect in 2006, is credited for creating an enabling environment for the growth and usage of technology.

Kenya’s ICT Policy which came into effect in 2006, is credited for creating an enabling environment for the growth and usage of technology.

To achieve Kenya’s Vision 2030 goal of a regional ICT hub, the tech sector was expected to contribute directly and indirectly to an additional 1.5% of Kenya’s GDP by 2017/2018.

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Why Buyers Are Now Running Away From Popular Used Toyota Cars




As it has been noted that Kenyans are now running away from the popular used Toyota car models, contrary to what has been a tradition in the country. The rise in their costs has seen even dealers cut down on imports of these vehicles due to decreased demand.

Traditionally, popular models such as Toyota Premio and RAV4 have been synonymous with middle-income earners over the years. However, this is no longer the trend.

Car dealers say more Kenyans are now going for vehicles such as Nissan Sylphy and Mazda, which cost less compared with popular Toyota models.

Toyota Vs Nisaan and Mazda models

According to Charles Munyori, the secretary-general of Kenya Auto Bazaar Association, Nissan Sylphy and Mazda’s CX5 and Axela, are quickly gaining popularity among Kenyans.

Mr Munyori said the price of a Toyota RAV4 has short up to Sh3 million currently from Sh2.8 million in February while a Premio is going for Sh2.2 million from Sh2 million four months ago.

On the contrary, Mazda Axela is now selling for Sh1.6 million with Nissan Sylphy (Blue Bird) going for at least Sh1.5 million.

Currently, consumers find these brands to be the best alternatives to their preferred models, as they are relatively cheaper and good.

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With the rising household costs, these car prices are making them affordable to most Kenyans as they struggle to balance the high cost of living.

“We are seeing a shift where Kenyans are now moving from the popular brands such as Toyota Premio and RAV4 to other models. This shift has been occasioned by the high cost that these cars are now fetching at the market,” said Mr Munyori.

“In fact, most of the car dealers are hardly bringing in Premio and RAV4 models because they are not moving and they will tie up money that they would need for importation of more vehicles,” he said.

Ex-Japanese vehicles

Ex-Japan vehicles dominate the Kenyan second-hand sector with a more than 80% market share.

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The buyers in the sector prefer these cars as their spare parts are easier to obtain locally compared to other brands. Additionally, buyers believe that the resale value of Toyota vehicles are higher than that of other brands like mazda or Nissan.

Reasons for risisng vehicle cost

The rising cost of vehicles in the country has been linked to the unavailability of dollars locally, a shortage of electronic chips in Japan, and a weakening shilling against the dollar.

The country is currently experiencing extreme dollar shortage, that one has to wait for at least three days to get $20,000 or $25,000 from the banks.

“We have to wait for like nine days in order to accumulate $80,000, and this has seen car dealers delay in making their orders. We are really feeling the impact of the dollar shortage in the market,” Mr Munyori said.

banks have imposed regulations on dollar purchase. This has forced traders to face difficulty in meeting their obligations.

Industrialists are forced to start seeking dollars in advance. The shortage puts a strain on supplier relations and the ability to negotiate favourable prices in gap markets.

On the other hand, Semiconductors are used in making electronic devices. Their shortage has forced the vehicle manufacturers to scale down the production. The quantity and quality cannot be maintained with decrease in one of the crucial raw material.

Finally, the shilling has persistently remained weak against the dollar. this has made it costly for importers shipping in goods.

The shilling has hit a record low trading at of Sh 117.06 against the dollar. This predicts a continued rise in imported goods, and signifies a further dollar shortage crisis.

The continuous depreciation in shilling stability is attributed to increased demand for dollars from importers. This highly arises on importaion of crude oil and merchandised goods.

It should be noted that most external debt is repaid in the dollar. Therefore, a weakened shilling increases prices of imported goods, and puts pressure on the country’s debt repayment.

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