By EDITORIALMore by this AuthorDigital lending is a new service whose significance is evident in the proliferation of mobile loan apps. The ease with which the loans are processed is a big attraction, especially for young people, who do not have the collateral to get loans from banks and other traditional lending institutions. The digital loans are a godsend for Kenyans, who cannot borrow from formal financial institutions. USE PHONESFor those operated by mobile phone providers, it is easier as borrowers must use their phones and any money that lands into their accounts is debited to service loans. However, some will apply for a loan and change their number or shift to a new mobile service provider.

Source: Daily Nation March 12, 2020 21:00 UTC