HomeFINANCEList of Peer- to Peer Lending Platforms in Kenya

List of Peer- to Peer Lending Platforms in Kenya

Have you ever wondered whether there are peer-to-peer lending platforms in Kenya? If so, we are here to debate the top venues for Peer -to- Peer lending in Kenya.

In this article, we will examine at;
What is a peer -to -peer lending in Kenya?
The best media for peer to peer lending
How does Peer- to- Peer Lending in Kenya Work?
Let’s delve into the details below.
What is a peer- to- peer lending?
Peer- to- Peer lending (p2p) is a platform for lenders to access allocation outside banking institutions. Before the beginning of technology, this used to happen a lot within Chama’s and the Merry-go-rounds.
Nevertheless, with the adoption of technology in Kenya, online outlets have established platforms that link lenders to borrowers.
Investors in peer-to-peer lending are everyday individuals who have extra cash in their hands and are glad to lend it to other people and earn some interest in the operation.

Now that we comprehend what Peer Peer lending in Kenya is, let’s look at the most suitable platforms.
Peer to Peer Lending operates differently from how the banks work. Borrowers are fitted directly to the lenders through the lending platform. Lenders make a gain through the fees charged by the lending platform and a percentage of interest.

Why borrow on Peer -to -Peer Lending Platforms?

Here is why you should borrow from a peer to peer lending platform.
Everything is accomplished online, and it’s fast.
You do not have to provide security for a loan as most loans are unsecured.
Lower or occasionally no interest charges.
Automatic repayments
Funds can be used for another motivation other than the one borrowed without any need for authorization as long as repayments are made.

Peer to Peer lending Platforms in Kenya

There are nuerious platforms in Kenya offering peer to peer lending in Kenya. Each of these platforms charges different interest rates as well as has distinct terms & conditions.
Below we will outline the most promising of these outlets.


Zidisha is a peer to peer lending platform in Kenya that allows people to lend tiny amounts of money to entrepreneurs. At Zidisha, there are no third groups involved as the money is transferred straight from the lender to the borrower.
Moreover, this platform permits the Lenders to communicate straight to the entrepreneurs they have lent money to.


Kiva is another platform that links lenders to borrowers in Kenya. At Kiva, all the loans are advanced to borrowers at a 0% interest charge. As a result, the Kiva platform creates loans affordable to Kenyans who cannot access commercial banking organizations due to various limitations.
An entrepreneur can only access up to KES 500,000 with a 0% interest rate.

Uba Pesa App

Uba Pesa is a Peer to Peer lending platform designed by Kenyans for Kenyans. This platform was launched in Kenya in mid-2018, and it has been in operation since.
It is worth mentioning that Uba Pesa charges an interest rate on the loans expanded to borrowers. However, the interest rates charged vary based on the repayment period agreed upon while borrowing.
The shorter the repayment span, the lower the interest rate charged and vice versa. The repayment spans are divided into 10 days, 20 days, and 30 days.
Unlike Zidisha, which allows lenders and borrowers to transmit, Uba Pesa App does not allow this communication.
Moreover, a borrower utilizing the Uba Pesa app can access numerous loans, unlike the other platforms that only present one loan at a time.

WayHoty App

WayHoty is also an online peer to peer lending platform in Kenya, just like Uba Pesa. Moreover, WayHoty presents more than Peer to Peer Lending in that it also presents working capital loans for small businesses and mobile loans.
To borrow from their Peer- to- Peer lending platform, one has to meet the following criteria:
Be above 21 years of age.
Have a source of income
have no criminal record
Be a Kenyan Citizen living in Kenya.


Pezesha is possibly more revolutionized than all the other platforms detailed above. As through Pezesha, one can also borrow even without access to the internet.
One only has to send the word Apply via shortcode 22235 to be able to access the loan.
Nevertheless, they have already stood vetted for a borrower to access their loans this way. Also, they need to have brought at least one loan with Pezesha and paid it.
All loans presented are based on your credit score rating. Thus, the higher your credit scores, the greater your chances of accessing the loan.

Peer to Peer Lending in Kenya Conclusion

Now that we have examined at the best peer-to-peer lending platforms in Kenya, it is essential to read through each platform’s terms & conditions.
This way, you will only guarantee a loan that you can quickly pay back without straining much. Some platforms like Zidisha require weekly repayments, while others require monthly repayments. Dangling on the type of business you manage, and with all this information, you can be able to select the best platform to lend or borrow from.
Are there some other peer to peer lending platforms we have left out?



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