Kenyan banks, insurers court tech startups for digital products expansion

In October, it will be exactly 10 years since Abubakar Godhana Ali accessed his first-ever credit from the formal financial sector. Much has changed in his life since then, but he has never forgotten the Sh250 loan he received from a digital lender.

“It was a lifeline,” he recalls. “It looks small, but in university that was enough to get by for one week, even two if used well.”