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US investor to offer loans on M-Pesa, Facebook data

Published on October 19, 2015

A US company has launched a Facebook-linked mobile phone lending service that allows users to borrow and repay small loans through M-Pesa.

The service, accessible through an app dubbed Branch is set to raise competition for other M-Pesa-based loan disbursement platforms such as M-Shwari and KCB M-Pesa.

Matt Flannery, the co-founder of the peer-to-peer lending platform Kiva, said the company will be offering entrepreneurs up to Sh50,000 repayable in six months. Read more. Source | Business Daily