Kenyan bank sets aside Ksh. 30 bn for Corona loans

Kenyan bank KCB Group has set aside Ksh. 30 bn to be advanced as  loans to individuals and small and medium enterprises affected negatively by the Coronavirus pandemic. Facilities of between Ksh. 50 – Ksh. 1 million will be available to persons according to their credit scores. The loans will be availed in partnership with mobile network operator Safaricom through their mobile money service M-pesa. The lender has also extended loan repayment periods for current mobile app loans by 90 days.