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Financial service providers are turning their guns on network subscribers making them their next hunting ground for loan applicants. Yesterday, AVLC Group, a private lending firm, launched a mobile loan service dubbed Pesa-na-Pesa (PNP) that would see users borrow between Sh500 and Sh10,000. This comes even as Kenya Commercial Bank (KCB) announced that 1.8 million customers had signed up for its KCB/M-Pesa service.
The service allows users to deposit cash and borrow up to Sh1 million for up to six months via their mobile devices. Airtel is also partnering with Africa Business to offer credit services to its customers.
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