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Wednesday November 6, 2019 - President Uhuru Kenyatta has today launched a money lending app.

Uhuru launched Stawi App, a digital credit facility for small and medium enterprises (SMEs) and the inaugural Inua Biashara Day, at Safari Park Hotel.

The Stawi digital credit app will be able to advance loans at an interest rate of 9 per cent per annum.

According to Uhuru, one factor that makes Stawi stand out is the fact that it offers a longer repayment period than many lenders.

"Stawi will offer a longer repayment period to small business holders and therefore, grow their businesses to the next level," Uhuru highlighted.

“Stawi offers unsecured loans from Ksh 30,000 to Ksh 250,000 with repayment periods of between 1 to 12 months, at an interest rate of 9 per cent per year."

"When compared with other mobile-based loans, you will recognize that the Stawi product is very competitively priced,” a local bank recommended.

Uhuru further disclosed that Stawi was established to alleviate challenges faced by SMEs that have gradually reduced their competitiveness and have experienced strained growth.

"In recognizing the potential of the SMEs sector to transform the lives of many Kenyans, the government has made a deliberate decision to prioritize the sector’s development as part of our big four agenda," President Kenyatta stated.

The Kenyan DAILY POST
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  1. That interest rate of 9% is not fixed and could go up. This open the flood gates for loan sharks that charge 1200% interest rates for payday loans (monthly loans to meet bills)

    ReplyDelete
  2. Conditions are hash-Business licence and you have no money to register.
    -Licence number and you have no money for the licence.

    ReplyDelete

 
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