@kawi254 just to clarify.
The borrower does not provide or list referees, they give the loan app permissions to read phone sms and contacts.
When installing the loan app, the user has to allow these permissions. Thats how they got your contacts.

Ni sumbua sana. And embarrassing.

Great paper. Now we know that as of 2017, 70% of digital loans were for other reasons other than business. We also know that 50% either paid late or defaulted. May not be a very lucrative sector for banks. Supports the figures from CBA whereby despite having 40m accounts and mshwari being the leading digital lender, its assets and profits are not much better than poor small SME bank NIC.

All the more why CBK needs to disclose figures that banks are lending on mobile and default rates for banks specifically.

I am surprised that in 2017 only 3% of digital loans went to gambling. However this was a respondents survey and sometimes people dont tell the truth about stuff. I wish a similar survey could be done using hard core data from CBK and CCK and mobile phone companies.

Welcome back Rollout!! You vanished after that Kikuyu woman

That name has been floated around https://pezesha.com/