NCBA Disburses $7.7B in Loans as Mobile Credit Becomes Lifeline
TLDR
- NCBA Group, Kenya’s third-largest bank by assets, disbursed more than KES 1 trillion ($7.7 billion) in digital loans in 2024
- The bulk of the disbursement came from Fuliza, the overdraft facility embedded in M-Pesa, which issued KES 906 billion ($7 billion)
- M-Shwari, NCBA’s mobile savings and loan product, saw a modest 3.5% dip to KES 98 billion ($758 million)
NCBA Group, Kenya’s third-largest bank by assets, disbursed more than KES 1 trillion ($7.7 billion) in digital loans in 2024, reflecting the growing reliance on mobile-based credit solutions amid tight economic conditions and shrinking access to traditional bank loans.
The bulk of the disbursement came from Fuliza, the overdraft facility embedded in M-Pesa, which issued KES 906 billion ($7 billion)—a 14.8% year-on-year increase. Meanwhile, M-Shwari, NCBA’s mobile savings and loan product, saw a modest 3.5% dip to KES 98 billion ($758 million).
NCBA’s Loop app, which targets salaried and younger users, doubled its loan output to KES 2.5 billion ($19.3 million). Collectively, these platforms pushed NCBA’s digital credit volume to KES 1.006 trillion, the highest in its history.
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Key Takeaways
NCBA’s soaring mobile loan volumes underscore a broader trend: digital credit has become the de facto source of liquidity for millions of Kenyans and small businesses, particularly as traditional banks tighten lending criteria due to rising defaults and elevated interest rates. The success is largely built on NCBA’s strategic partnership with Safaricom, which provides the M-Pesa backbone for Fuliza and M-Shwari. With 33.4 million Fuliza users and 32 million M-Shwari users, the platforms have evolved from stopgap loans into vital tools for everyday cash flow, covering groceries, rent, and school fees.
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