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Data by Kenya National Bureau of Statistics indicates that mobile loans are the third most important source of formal loans for Kenyans behind commercial banks and Savings and Credit Cooperative Societies/FILE

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Ngao Credit to allow customers to guarantee loans with NSE shares

Data by Kenya National Bureau of Statistics indicates that mobile loans are the third most important source of formal loans for Kenyans behind commercial banks and Savings and Credit Cooperative Societies/FILE

NAIROBI, Kenya, Sept 16 – Nairobi based microfinance Ngao Credit has launched a new loan service that will see borrowers guarantee their loans against their Nairobi Securities Exchange registered shares.

Chief Operations Manager Emmanuel Murai says the provision will widen their customer base while ensuring customers get money quickly.

Manyara was speaking during the company’s 10-year anniversary.

Group Chief Operations Officer Trevor Kimani says the company has set its focus on widening its mobile money operations at a time when more Kenyans are turning to mobile phones to access loans.

“Technology has without a doubt made access of loans very easy and we are capitalizing on Kenya’s wide reach of mobile money use with our loans,” Kimani said.

Data by Kenya National Bureau of Statistics indicates that mobile loans are the third most important source of formal loans for Kenyans behind commercial banks and Savings and Credit Cooperative Societies.

Below is an excerpt of the interview with Ngao Credit:

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