A group of boda boda riders huddled together at the Syokimau bus stage. The boda boda riders are just a fraction of Kenyans struggling to get by and service their loans since coronavirus landed on the Kenyan shores in March last year. Men accounted for the biggest proportion of digital borrowers at 60 per cent compared to women at 40 per cent. “Like borrowers who use formal financial intermediaries, digital borrowers are predominantly male, but unlike other formal and even informal borrowers, digital borrowers are predominantly under the age of 35 (62 per cent),” said FSD in its report. FSD further found that digital borrowers are more heavily concentrated in urban areas.

Source: Standard Digital July 23, 2021 18:45 UTC