Serrari Group

Standard Chartered Bank has entered the competitive landscape of Kenya’s digital lending sector with the introduction of SC Juza, a mobile app aimed at meeting the increasing demand for short-term, unsecured loans accessible through mobile wallets.

With SC Juza, Standard Chartered joins the ranks of leading banks such as KCB, ABSA, Equity Bank, and NCBA, all seeking to tap into the burgeoning digital lending market in Kenya.

Recent data from the Competition Authority of Kenya reveals that Fuliza and M-Shwari currently dominate the digital credit market, holding a significant 59 percent market share. Following closely are KCB’s Mpesa, Tala, and Branch, each with their respective shares.

SC Juza offers customers the flexibility to borrow amounts ranging from Sh1,000 to Sh100,000, with a repayment period of two months. Notably, interest is charged only for the duration the loan is held, providing an incentive for early repayment.

Kariuki Ngari, CEO of Standard Chartered Kenya and East Africa, emphasized the bank’s commitment to offering inclusive financial solutions through SC Juza, aligning with their broader digital strategy.

To ensure consumer protection, Standard Chartered has implemented robust security measures within the app to combat fraud, leveraging advanced technology.

The bank’s entry into digital lending comes amid a backdrop of increasing defaults across the financial sector in the first quarter of the year. However, SC Juza’s initial rollout to a select group of customers has shown promising results, with a significant number of clients successfully securing loans.

Ngari highlighted Standard Chartered’s dedication to digital innovation, citing the previous launch of SC Shilingi, a digital platform offering money market funds in Kenya.

Currently, a considerable portion of Standard Chartered’s client base is digitally active, with the majority of sales and client servicing conducted through digital channels.

As Standard Chartered ventures into the digital lending space, it aims to provide secure and accessible financial solutions to meet the evolving needs of Kenyan consumers.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

5th June, 2024

Share this article:
Article and News Disclaimer

The information provided on is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website., reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023