Mwananchi Credit is the Most Trusted Credit Institution, a New Report Says

Mwananchi Credit, a leading lending platform based in Nairobi, is the most trusted credit institution in Kenya, according to a recent study by Kenya Trak.

The company has a 84% trust rating, six percentage points above Jijenge Credit Limited, confirming Mwananchi’s towering trustworthiness in the alternative credit market in Kenya.

Kenya Trak released the results on August 26, 2024, after a study that covered all sub counties in Kenya, carried out between August 12^th and August 16^th, 2024.

From the 7204 respondents, Kenya Trak reported an enhanced trust and confidence in Mwananchi Credit Limited, with more than 8 out of 10 respondents confirming that they trusted the lending practices employed by lender.

“We are happy to be voted as the most trusted credit institution in Kenya at a time when the market has become competitive. It shows that we are receptive to challenge, and our customers trust our business processes”, said the CEO for Mwananchi Credit.

This is not the first time that Mwananchi Credit has received accolades for strong performance and customer-centric business approach. In 2023, the company collected the winning medal in Pacesetter Awards held in Tanzania, beating more than 150 firms that participated in the Awards.

The study represented all demographic groups in Kenya, with 54% male respondents compared to 46% female respondents where six out of ten respondents were aged between 18 and 44 years. The sample was heavily represented by people earning below 55,000 Kenya Shillings per month, forming 85% of the study participants.

Kenya Trak’s report comes at a time when digital and alternative lending firms are playing a critical role in financial deepening in Kenya, opening access to credit to millions of people who are locked out of the formal banking and financial system.

The alternative lending sector is expected to cross the 100 billion marks by 2027 from the current estimated 52 billion value, a testament of the benefits of eradicating stringent conditions for issuing loans to individuals and SMEs, in Kenya.

Mwananchi Credit’s success is an offshoot of continuous innovation in customer engagement, an employment of modern technologies, and proactive risk management approaches that adapt to customer needs.

Some of the products that fly off the shelf for Mwananchi Credit Limited include best logbook loans, imports financing, car financing, title deed loans, cheque discounting and check off loans. The company also offers insurance premium financing, easing the burden for Kenyans facing tough financial times.

Mwananchi Credit Limited is the trailblazer for quick approval for loans where customers can access their financing in less than 24 hours, shortcutting the rigmarole typical of mainstream lending institutions in Kenya.