Business Daily | by Patrick Alushula
Co-operative Bank of Kenya salary advances to customers doubled last year on the back of Covid-19 economic hardships that saw many workers suffer pay cuts.
The lender disclosed that its mobile platform, M-Co-op cash, issued Sh105.1 billion as salary advances in the review period, up from Sh52.28 billion in the preceding similar period.
The rise means that salaried people were drawing an average of Sh144.7 million advances daily from the lender, showing the popularity of short-term credit facility in the Covid-19 environment…
