Telkom Kenya joins mobile lending frenzy with T-Kash loan

0

Mobile operator Telkom Kenya is preparing to launch a mobile loan service to take a slice of the fast growing and lucrative mobile loan sub-sector.

Telkom plans to collaborate with an as-yet-unnamed financial institution to enable its customers to instantly access microcredit facilities through their mobile phones.

Short-term mobile loans have attracted several fintech players in recent years, with major mobile operators taking advantage of their large number of subscribers to roll out different products.

Telkom’s loan product will be accessible through the T-Kash mobile application.

In a statement announcing the plans, Telkom said: “From our interactive sessions with our customers, we have noted that Kenyans appreciate mobile money solutions better when they continue to find more reasons to attach value to their mobile wallets, whether they are sending money, paying for goods and services, saving, borrowing or trading.”

The new facility will compete with similar products, including NCBA’s KCB-Mpesa and M-Shwari, which operate on the Safaricom network. Safaricom’s Fuliza credit facility is one of the most popular in the country, yielding handsome profits for the telecommunications giant.

“We continue to have these exploratory sessions which will inform and enhance the experience we provide to our customers; we can update once the new value proposition is ready for market. Telkom Kenya explained.

follow us on Telegram, Twitterand FacebookWhere Subscribe to our weekly newsletter to make sure you don’t miss any future updates. Send tips to [email protected]

Share.

About Author

Comments are closed.