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Ugandans borrow sh3.5 trillion via phone
The BOU Integrated Annual Report for the year ended June 30, also shows that loan repayments rose sharply by 248.7% in volume, from 56.8 million transactions worth sh1.6 trillion to 198.2 million transactions valued at sh3.6 trillion.
The popularity of digital lending has soared because of mobile money platforms and fintech applications.
By: Mary Karugaba, Journalists @New Vision
KAMPALA - Borrowing via mobile phones has surged nearly threefold to sh3.5 trillion as of June, up from sh1.66 trillion last year, according to a Bank of Uganda