Biashara DT Sacco Society Limited is set to roll out online digital loans beginning early next year as part of efforts to embrace technology and expand financial inclusion, particularly among the youth.
The Sacco’s Treasurer, Dr. Peter Macharia, said the move is in line with the country’s evolving financial sector where digital platforms are increasingly reshaping access to credit. Kenya is globally recognized for having one of the most advanced mobile money ecosystems in emerging markets, with millions of people relying on mobile platforms for financial services.
“With the new digital loans, borrowers will apply, get approved, and receive funds electronically within minutes. The money will be transferred directly into their mobile wallets and repayment will also be made online. This process will eliminate paperwork, reduce delays, and ensure more people—especially the unbanked—can access affordable credit,” Dr. Macharia said.
ALSO READ:
Equity Bank, Inchcape partner for new tractor loan scheme to boost farmers’ productivity
He was speaking during a Special General Meeting (SGM) held at ACK Cathedral Hall in Nyeri town and chaired by Sacco Chairman Joseph Njamuku.
Chairman Njamuku said the Sacco remains committed to embracing innovation to stay competitive in the fast-changing financial landscape.
“We are keen on using technology to provide efficient, secure, and member-friendly services. The introduction of digital loans is a step toward not only modernizing our systems but also ensuring our youth have easier access to financial support for business, education, and personal development,” he said.
With digital lending becoming a central feature of Kenya’s financial services sector, Biashara DT Sacco’s entry into the space is expected to further enhance access to affordable credit while strengthening its position in the cooperative movement.
By Rodgers Wagura
Get more stories from our website: Sacco Review.
For comments and clarifications, write to: Saccoreview@
Kindly follow us via our social media pages on Facebook: Sacco Review Newspaper for timely updates
Stay ahead of the pack! Grab the latest Sacco Review newspaper!
