Afronomics Kenya Cost of Credit Index · version 0.1 · indicative
What borrowing costs in Kenya, by kind of lender
The same KES 1,000 for 30 days, priced from what we hold with a source and a date: the Central Bank of Kenya’s bank lending average and the charges mobile-loan providers publish. SACCO loans are a gap we have not filled yet. Categories of lender, not a ranking of lenders.
Borrow KES 1,000 for 30 days
- Bank loans
- KES 12
- Mobile loans
- KES 140
A mobile loan costs about 12 times the bank average, as a yearly rate.
2 of 4 categories covered · reading of 4 Nov 2026
Latest reading
The components
Yearly rates are simple: the charge for the term × 365 ÷ days, without compounding, so a mobile loan can be set beside a bank rate.
| Category | Status | Yearly rate | KES 1,000 for 30 days | Input as of | Basis |
|---|---|---|---|---|---|
| Bank loans | Included | 14.40% | KES 12 | September 2026 | Central Bank of Kenya weighted average lending rate across commercial banks, for the month. An average of the interest rates banks charge, weighted by loan size. It leaves out fees, so the full cost of a bank loan is higher. |
| Mobile loans | Included | 170% | KES 140 | 5 Oct 2026 | Median of the full published charges of 2 mobile loan products, for KES 1,000 over 30 days, as a simple yearly rate. Every published charge is counted (fees and excise duty included). Late fees and rollovers are not, so a borrower who pays late pays more. |
| SACCO loans | Gap: not held | — | — | — | Not held. We hold no published SACCO loan rates yet. SASRA publishes dividends and deposit interest, not loan pricing. This category stays empty until we hold SACCOs’ own published loan rates, with sources and dates. |
| Digital loan apps | Excluded for now | — | — | — | Borrowers’ own reports (unverified). The loan-app costs we collect are borrowers’ reports, not published prices, and are not checked against the lender. They stay out of the index until the founder decides whether, and how, they can enter it. |
Quote it as: “The Afronomics Kenya Cost of Credit Index (v0.1, indicative) read, on 4 November 2026: bank loans 14.40% a year (CBK average, 2026-09); mobile loans 170% a year (median published charge, KES 1,000 for 30 days). SACCO loans are not yet covered.”
Sources
Every input, with its source and date
Published prices as each source states them, in alphabetical order. A product is an input to the mobile reading, not rated or ranked.
| Input | Yearly rate | Read or dated | Counted? |
|---|---|---|---|
| CBK weighted average lending rateCentral Bank of Kenya, commercial banks | 14.40% | September 2026 | Yes |
| Fuliza M-PESA overdraftSafaricom with NCBA and KCB, published terms | 231% | 5 Oct 2026 | Yes |
| M-Shwari loanNCBA Bank with Safaricom, published terms | 110% | 5 Oct 2026 | Yes |
| Tala loanTala Kenya, published terms | from 110% | 5 Oct 2026 | No. Published as a “from” price: a floor, not the price most borrowers pay. Shown, not counted. |
Gaps
What the index does not cover yet
- SACCO loans. We hold no published SACCO loan rates yet. SASRA publishes dividends and deposit interest, not loan pricing. This category stays empty until we hold SACCOs’ own published loan rates, with sources and dates.
- Digital loan apps. The loan-app costs we collect are borrowers’ reports, not published prices, and are not checked against the lender. They stay out of the index until the founder decides whether, and how, they can enter it.
- Fees on bank loans. The CBK average is an interest rate only; arrangement fees, insurance and other charges are not in it, so the full cost of a bank loan is higher than shown.
- No single blended number. We hold no lending volumes by category to weight one, so version 0 shows each category on its own.
How it is computed, the windows and minimums, revisions and governance: KCCI method, version 0.1.
Information, not advice.
How to cite KCCI
In a chart or article credit:
Source: Afronomics, KCCI, 4 November 2026. https://www.afronomicsfeed.com/rates/kenya/cost-of-credit
In a paper or report:
Afronomics (2026). Afronomics Kenya Cost of Credit Index (KCCI), reading of 4 November 2026. Method version 0.1. https://www.afronomicsfeed.com/rates/kenya/cost-of-credit
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Always
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