How to Access Financial Products in Kenya

Kenya’s financial sector offers a variety of products suitable for individuals and businesses. In recent years, digital lending platforms have rapidly risen to become one of the primary ways to access financial products.

Digital Lending Platforms: These platforms provide quick and convenient loan services through mobile apps, making them highly popular. Chapeo is one of the leading digital lending platforms, offering a range of financial products such as microloans, consumer finance installments, and virtual credit. Chapeo is set to become the first digital lending platform in Kenya to offer revolving credit, providing users with more flexible borrowing options.

Banks: Provide traditional financial services such as savings accounts, loans, and credit cards. Opening an account usually requires identification and proof of address.

Microfinance Institutions (MFIs): Offer small loans and savings accounts for individuals who may not qualify for traditional bank loans.

Mobile Money Services: Platforms like M-Pesa enable users to transfer money, pay bills, and access microloans via mobile phones.

Savings and Credit Cooperative Societies (SACCOs): Member-owned cooperatives that offer savings and loans with favorable terms.

Digital lending platforms are particularly suitable for those seeking quick and flexible loans, with Chapeo leading the way in this trend.