From All Africa
Agribank has introduced a new electronic system, which has already helped to reduce the backlog on loan applications. Just last week 30 loans were approved, according to the marketing manager Regan Mwazi.
Mwazi said they expect complaints from clients to decrease due to Agribank’s move from manual to electronic systems, reducing the loan processing period from months to a day. The bank received over 187 loan applications in the period of January to March and has over a 100 pending applications.
However, an estimated 30 loans have been processed with the new system last week, said Mwazi. The number of loan applications received by the bank in the period of May to June this year could not be provided as the bank was reportedly implementing the new system.
Read more at allafrica.com