Nairobi, Feb. 12 -- Financial services firm, Mogo, has secured Sh800 million loans from I&M Bank and Ecobank to expand financing for assets such as motorcycles, vehicles, and smartphones in Kenya, targeting underbanked individuals and small businesses.

The fund is expected to boost Mogo at a time when demand for credit-backed asset financing is rising among informal sector workers, particularly boda boda riders and micro-entrepreneurs who are seeking ownership instead of daily rental arrangements.

Mogo said the capital will be deployed primarily towards financing motorcycles and vehicles, which remain critical tools of trade for millions of Kenyans operating in the transport, delivery, agriculture, and informal commerce segments.

"Mogo...