Access, not cost is the driver of credit uptakeBefore M-Pesa became the symbol of financial inclusion, going to the bank was like flying first class. SEE ALSO :App lenders form association as Njoroge talks toughIn Gikomba, lenders were falling over each as they wooed mitumba traders. Technology- and specifically financial technology (fintech)- offers an opportunity to democritise the financial sector by expanding access to credit to all borrowers irrespective of their social and economic stations in life. Nonetheless, it is important that policymakers including law-makers appreciate that access to, rather than cost of, credit is the elephant room. Much effort should thus be channeled towards ensuring that as many Kenyans as possible have access to credit.
Source: Standard Digital June 16, 2019 21:00 UTC