Digital economy blueprint

5.3.5.2 Financial Deepening

On the positive side, the national broadband deepen-

ing has led to financial deepening in the country, which 

has led to robust innovations in the fintech sector. For 

instance, all banks in Kenya are using banking apps to 

provide 24 hour banking services regardless of loca-

tion. It has also led to deepening and spread of finan-

cial credit sector as evidenced by the recent explosion 

of loaning apps e.g. Tala

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, Branch

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 and M-Shwari etc. 

for which citizens can access loans after downloading 

the apps, registering and agreeing remotely with the 

credit vendors on Terms and Conditions.