KBA officially launches Stawi digital credit facility for SMEs

A group of Kenyan banks under Kenya Bankers Association, has committed 10 billion Kenyan shillings in loans to small and medium businesses under a new mobile phone-based loan service targeting a fast-growing segment which has traditionally been under-served. Known as Stawi, the mobile based service has garnered 100,000 customers who have already borrowed 100 million shillings during a trial phase started in May.