NAIROBI, Kenya, Dec 6 – The Ministry of Co-operatives and Micro, Small and Medium Enterprises says borrowers have repaid Sh321 million of the Sh35 billion disbursed so far.
Some Sh12.62 million Kenyans have opted into the fund, which has processed Sh6.46 million transactions.
Some Sh250 million has been saved on behalf of borrowers, while Sh322.3 million individuals have already borrowed more than once.
The fund, launched on Wednesday, will offer four different products: start-up loans, micro-loans, SME loans, and personal loans.
To be eligible for the fund, one must be a Kenyan citizen aged 18 years and above, with a valid Identification Card and Registered Mobile number with mobile network providers like Safaricom, Airtel, and Telkom.
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