HF Group
HF Whizz
Nancy Matimu

HF launches mobile lending app

Struggling HF Group has tapped into the rapidly growing mobile lending segment, increasing competition in a market where interest charges are not regulated. HF Whizz, the app run through the listed firm’s banking arm, HFC, enables customers to borrow between Sh1,000 and Sh50,000 at a monthly interest of 1.125 per cent and facilitation fee of 6.6 per cent.The app, currently available to smartphone users, also enables customers to transfer up to Sh200,000 daily and deposit cash, Chief Digital Officer Nancy Matimu said on Tuesday following the launch in Nairobi.“A digital experience on a smartphone enables you to do much more than what you will do on a USSD phone, including value-added things such as tracking your expenses and managing your budgets,” she said.

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