Kitabu Africa Revolutionizing the way thousands of Kenyan Shopkeepers lend goods.

Losing money to debt is one of the biggest obstacles faced by shops in Sub-Saharan Africa, forcing many to go out of business. This is due to poor recordkeeping and the inability to keep track of the deadlines they have with borrowers.

It is estimated that, at any given time, the total debt at these shops is USD 124M; and with bad debt running at 45% this creates a monthly loss of over USD 55M.

Kitabu Africa is bringing a mobile app that replaces and enhances the manual ledgers used by shopkeepers today. The app provides estimates of the credit risk of each borrower, enabling shopkeepers to know when borrowers will pay back or if they will fail to do so.

With Kitabu, shopkeepers can reduce loan defaults from 45% down to 12%.

They can also save time by not keeping manual ledgers, and increase confidence in their loans thanks to data-based estimates.