A large percentage of Kenyan population is digital borrowers. Majority of them have borrowed from mobile apps such as M-shwari, Equity Eazzy, KCB Mpesa, Tala and MCo-op Cash. According to a research by the FDA most borrow money from digital sources for business purposes while others borrow to cater for their day-to-day needs.
Another percentage borrows to finance their education while others will simply borrow to pay bills and buy airtime.
About 7% of the population borrows to cater for medical emergencies.
There is also another population of Kenyans that borrow loans from one mobile app to pay another mobile loan app.