All smiles for small businesses as Uhuru launches Stawi App for easy loans.

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President Uhuru Kenyatta alongside other state officials arrive for teh launch of Stawi App at Safari Park[Photo/Courtesy].

“In recognizing the potential of the SMEs sector to transform the lives of many Kenyans, the government has made a deliberate decision to prioritize the sector’s development as part of our big four agenda,” President Kenyatta stated.

Kenyan SMEs have a reason to smile after President Uhuru Kenyatta today launched a money lending app.

Speaking at Safari Park Hotel on Wed Nov 6th, Uhuru launched Stawi App, a digital credit facility for small and medium enterprises (SMEs) and the inaugural Inua Biashara Day.

The Stawi Digital Credit App will now enable advance loans at an interest rate of 9 per cent per annum.

Uhuru further disclosed that Stawi was established to alleviate challenges faced by SMEs that have gradually reduced their competitiveness and retarded growth.

“In recognizing the potential of the SMEs sector to transform the lives of many Kenyans, the government has made a deliberate decision to prioritize the sector’s development as part of our big four agenda,” President Kenyatta stated.

Uhuru further, underscored the one factor that makes Stawi standout is the fact that it offers a longer repayment period than many lenders.

“Stawi will offer a longer repayment period to small business holders and therefore, grow their businesses to the next level,” he said

Bankers have weighed in saying Stawi offers unsecured loans from Ksh 30,000 to Ksh 250,000 with repayment periods of between 1 to 12 months, at an interest rate of 9 per cent per year.

This if compared to other mobile-based loans, the Stawi product is very competitively priced. Video/Courtesy-

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