Maisha Becomes First Microfinance Bank in Kenya to Offer Mobile Loans

Maisha Microfinance Bank (Maisha MFB) in partnership with Airtel have rolled out a mobile money savings and loan product targeting registered Airtel Money subscribers.

Maisha MFB becomes the first telco-backed microfinance to launch a savings and mobile money solution in the market and the fourth financial institution, alongside banks like Commercial Bank of Africa (CBA), Kenya Commercial Bank (KCB) and Equity.

Maisha MFB chief executive Ireneus Gichana said that prior to its launch in Nairobi Tuesday, the product had undergone a 45-day pilot period to ensure that it was running smoothly.

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