Compare the true cost of mobile money loans (Fuliza, M-Shwari, Tala) vs traditional bank loans. See how "small" daily fees add up to massive interest rates.
~18% p.a. (avg Kenya)
7.5% facility fee (30 days)
0.5% daily access fee
This shows the true yearly cost if you kept borrowing at these rates for a full year.
Mobile lenders like Fuliza, M-Shwari, and Tala use different fee structures that can be confusing:
Borrowing KES 10,000 for 30 days:
Fuliza costs 10x more than a bank loan for the same amount and period!