Adopting Artificial Intelligence (AI) technologies in the credit sector will go a long way toward boosting financial inclusion in Kenya, according to experts in the digital credit ecosystem.
Industrialization Secretary Professor Erastus Gatebe said this approach will particularly empower underserved groups, including small businesses and farmers.
Gatebe made these remarks on Monday during the Surfin’ AI Fintech Forum in Nairobi, where stakeholders from across the digital credit sector gathered to promote the use of AI in reducing financial barriers, improving lending efficiency, and driving industrial growth.
“The world is entering an era where artificial intelligence is no longer a futuristic concept. It’s an everyday reality, shaping industries, economies, and lives,” said Prof. Gatebe. “Kenya, with its vibrant entrepreneurial spirit and progressive policies, is embracing AI to drive financial inclusion and sustainable development.”
This even as Prof. Gatebe said the State Department for Industries will spearhead the integration of fintech into the national investment framework. The goal is to improve access to affordable capital, enhance digital credit scoring, de-risk small exporters, and promote real-time market data and digital contract enforcement to build investor confidence.
“Our Ministry is creating an ecosystem where both local and international investors can scale confidently and securely.”
Metropol CRB Chief Executive Office, Gideon Kipyakwai echoed these sentiments, considering the AI’s growing role in transforming credit scoring models.
“With AI, we are now able to build more predictive credit scores that are stable and reliable. This helps lenders serve more people, especially those previously excluded from the financial system,” said Kipyakwai.
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He, however, cautioned against the unchecked use of AI, noting its potential to reinforce bias and exclusion.
“AI has a dark side if not managed properly. At Metropol, we have adopted an ensemble model that balances different algorithms to reduce bias and ensure fairness, particularly for underserved borrowers.”
The forum also drew key policymakers and industry leaders, including National Assembly Finance Committee Chair Kimani Kuria and Digital Financial Services Association of Kenya (DFSAK) Chairman Kevin Mutiso.
The event was hosted by Surfin, a Singapore-based fintech company specializing in digital financial services for the unbanked and underbanked in emerging markets.
Surfin’s offerings span consumer lending, credit cards, remittances, payments, and B2B financial services. The firm operates across markets in Asia and Latin America, including Indonesia, the Philippines, India, and Mexico.
Surfin’s strategic edge lies in building a cross-border, scalable technology platform tailored to local market needs.
The company emphasizes transparency and innovation in delivering financial solutions, with Haitong International Securities Singapore acting as financial advisor for its latest funding round.
