• Latest
  • All
  • How To
BRANCH APP

Mobile Money Solutions for Loans Still Soaring as Branch Reports a 15% Monthly Bump Since Launch

June 8, 2017
tecno ultimate g fold concept

TECNO Enters Tri-fold Race with New Ultimate G Fold Concept Phone

July 9, 2025
Microsoft Edge browser

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 2025
Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

July 8, 2025
Open TV

Open TV Brings Fast and Ad-Free IPTV to Android

July 7, 2025
DHgate Tablet Cases deals
Microsoft

Laid-Off Microsoft Workers Told to Ask ChatGPT for Career Support

July 7, 2025
nairobi barricades

Live Barricades App Offers Relief to Stranded Nairobi Commuters on Saba Saba

July 7, 2025
Voter Verification Portal Offline Indefinitely for System Maintenance

IEBC Portal Shutdown for Undisclosed Maintenance Period

July 7, 2025
Infinix Note 50 Pro x Java House Collab

Infinix Teams Up with Java House to Launch Note 50 Pro Series

July 4, 2025
Instagram threads

Meta Adds Direct Messages to Instagram Threads

July 7, 2025
Infinix Hot 60i Pre-order

Infinix Hot 60i Now Available for Pre-Order in Kenya

July 4, 2025
Windows

Windows Loses Ground as Users Switch to Mac, Linux, and Mobile

July 7, 2025
Microsoft

Microsoft Slashes 9,100 Jobs in Biggest Layoffs Since 2023

July 4, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

Mobile Money Solutions for Loans Still Soaring as Branch Reports a 15% Monthly Bump Since Launch

Kenn Abuya by Kenn Abuya
June 8, 2017
in News
Reading Time: 2 mins read
248
4
BRANCH APP

BRANCH APP

Branch, a Facebook-linked app that allows its users to score small loans through Safaricom’s mobile payment solution, M-Pesa has reported a 15% monthly growth.

The lender, which was launched in October 2015 has enjoyed a substantial amount of success thanks to its vigorous strategies such as the expansion to new markets including Tanzania, scaling of operations as well as hiring of talent in its operating markets. Most of these strategies have been spurred by a US$ 9.2 million-investment by venture capital fund Andreessen Horowitz in March 2016.

This growth reveals no surprises because mobile loan apps have actualized access of instant mobile loans at the touch of a button.

Branch did receive mobile loan requests to the north of 250,000 in May, and its monthly loan book is at US$ 3 million.

“Our monthly loan book is now at around Sh3 billion and growing 15 per cent month over month. Demand for credit in Kenya continues to increase while banks are starting to curtail lending in the wake of the interest rate cap,” said Sofia Zab, marketing director of Branch.

The organization allows users to borrow up to KES 50,000 using its smartphone app available on the Android platform. Branch has also revealed that the amount will rise if the number of follow-up loan requests keeps growing.

Notably, Branch is one of the most popular solutions for mobile loans. A survey conducted by a Kenyan-based research start-up Djuaji Research discovered that Kenyans were more inclined to borrow money from mobile lenders than banks. At the same time, it was revealed that Kenyans preferred mobile money for saving solution to banks.

Based on these findings, it apparent why mobile money apps and solutions such as Equitel (that processes 10 times more loans than its parent bank’s branches), Tala and M-Shwari, among others, have made it less challenging for people to get access to loans sans paperwork and thorough vetting processes.

Tags: BranchEquitelMobile MoneyTala
SendShare146Tweet92
Kenn Abuya

Kenn Abuya

Kenn Abuya is a friend of technology, with bias in enterprise and mobile tech. Share your thoughts, tips and hate mail at [email protected]

Related Posts

Mobile Money

Kenya Hits 45 Million Mobile Money Users With M-Pesa in the Lead

July 1, 2025
Report on Mobile money industry in kenya

Kenya’s GDP Per Capita Up $460, Thanks to Mobile Money

April 1, 2025
How to Borrow Airtime on MPesa, Airtel, and Equitel

How to Borrow Airtime on Safaricom, Airtel, and Equitel in Kenya

March 14, 2025
Card Usage Drops as Mobile Payments Rise

Card Usage Drops as Mobile Payments Rise

December 20, 2024
How Africa’s Mobile Money Boom Faces Rising Fraud Risks

How Africa’s Mobile Money Boom Faces Rising Fraud Risks

November 4, 2024
image of Dr. Margaret Nyambura Ndung’u, ICT CS and GSMA leaders holding the GSMA report at movenpick hotel

Kenya’s Digital Transformation: A Tale of Progress and Persisting Challenges

October 27, 2024

Latest

tecno ultimate g fold concept

TECNO Enters Tri-fold Race with New Ultimate G Fold Concept Phone

July 9, 2025
Microsoft Edge browser

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 2025
Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

July 8, 2025
Open TV

Open TV Brings Fast and Ad-Free IPTV to Android

July 7, 2025
Microsoft

Laid-Off Microsoft Workers Told to Ask ChatGPT for Career Support

July 7, 2025
nairobi barricades

Live Barricades App Offers Relief to Stranded Nairobi Commuters on Saba Saba

July 7, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

TECNO Enters Tri-fold Race with New Ultimate G Fold Concept Phone

July 9, 2025

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Abductions and Arrests! Kenyan Government’s Fear and Hate of X Users Makes No Sense

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

More News

IEBC Portal Shutdown for Undisclosed Maintenance Period

Infinix Teams Up with Java House to Launch Note 50 Pro Series

Meta Adds Direct Messages to Instagram Threads

Infinix Hot 60i Now Available for Pre-Order in Kenya

Windows Loses Ground as Users Switch to Mac, Linux, and Mobile

Microsoft Slashes 9,100 Jobs in Biggest Layoffs Since 2023

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.