Branch eyes large mobile lending with Sh500 million credit

Mobile money lender Branch International has announced a Sh500 million investment. [Photo: Courtesy]

Mobile lender Branch International is set to expand its operations in the Kenyan market, after a Sh500 million capital injection.

The new credit line arranged by Centum-owned Barium Capital also marks the largest commercial paper issuance by Branch. “We continue to be impressed by Branch’s approach to credit management despite the very competitive Kenyan mobile lending space which for us remains the fundamental test of issuer quality,” said Barium Capital Managing Director Teresia Muthoni.

Last year Branch raised Sh350 million through a similar issuance and another Sh200 million in 2017.