Africa-Press – Lesotho. A roadside trader in Kenya’s jua kali (“hot sun”) informal sector goes onto her mobile phone before dawn to borrow working capital using the M-Shwari app to pay suppliers for the goods she will sell that day.
She may go for a microloan of between KSh3,000 and KSh9,000 ($27-$81), and usually repays the same day or within 48 hours to build her creditworthiness.
The working capital helps grow her micro-business.
The Covid-19 pandemic is accelerating the arrival of the future in Africa.
Digital services are critical for lockdowns and working from home, leading to a huge surge in data traffic, especially through mobile networks that offer millions of Africans access to the internet.
According to The Mobile Economy Sub-Saharan Africa report