SPONSORED LENDER

Mwananchi Credit Limited - Investor In People

Monday, May 20, 2019

CBK,Banks Launch Stawi Loans For MSMEs

    May 20, 2019   2 comments

Stawi Loan for MSMEs launch
Dr Patrick Njoroge @njorogep During Stawi Launch

Led by CBK governor Dr Patrick Njoroge, the regulator in partnership with 5 commercial banks has today unveiled Stawi, a mobile loan service for Micro, Small and Medium Enterprises (MSMEs).

The five banks involved in pioneering the stawi idea include;

  • KCB (Kenya Commercial Bank), 
  • NIC Bank ,
  • Coopbank (Cooperative Bank of Kenya, 
  • DTB (Diamond Trust Bank)
  • CBA (Commercial Bank of Africa )

But more banks are expected to join later.

Stawi loans will be accessible to business owners after registration through Stawi mobile Loan App.The registration will be through participating banks agents.

The app however is now in its testing phase thus it's open to 3500 business owners for the first two weeks.The second phase will then involve 10000 traders registered by stawi agents.

We have a detailed post about Stawi including interest rate, repayment duration and loan amount limits. 

Read;  Stawi Loan App

During the launch at Gikomba Market Dr Njoroge said;
Until now, lending to MSMEs has been constrained by the lack of reliable information to assess their creditworthiness. The innovation in this product is the use of all data in consumer transactions  to fill this gap.In that Sense it is revolutionary. 

Top bosses from the five participating commercial banks were all present.

  • Joshua Oigara ,KCB Group CEO
  • Gedion Muriuki ,CEO Coopbank 
  • John Gachora ,CEO NIC Bank 
  • Nasim Devji, DTB CEO
  • Jeremy Ngunze ,CEO CBA



Advertisements

Mwabaya Katana

About Mwabaya Katana

Mwabaya Katana is a Finance Online Researcher and Writer.He is the founder of 'Loans Kenya' Blog.

Previous
Next Post
2 comments:
Write comments