There is good news for users of the Mshwari platform and digital borrowers in general.
NCBA bank, the institution financing Mshwari loans in partnership with Safaricom has decided to increase the minimum credit limit of Mshwari from the initial Ksh500 to Ksh2,000
This increase takes effect from 10th August 2020 and is set to be communicated to qualifying customers.
The announcement comes at a time when the economy is under suppression occasioned by the corona virus pandemic that has rendered majority to face financial difficulties.
Mshwari loans are accessible via the Safaricom SIM card toolkit under the M-PESA menu.
In order to qualify, one requires an active MPESA account as well as continuous use of the Safaricom services such as voice, SMS and data.
Mshwari loans attract an interest rate of 7.5% and are repayable within 30 days.