Jijenge Credit CEO Urges Kenyans to Use Bank Cards Wisely This Festive Season Amid Rising Fraud

As the festive season gathers pace and households brace for heightened spending, the Founder, Managing Director and Chief Executive Officer of Kenya’s leading credit-only microfinance institution, Jijenge Credit Limited, has shared timely advice on safer and smarter use of bank cards during the holidays.

In a message released ahead of Christmas, the Jijenge Credit CEO warned that periods of celebration often coincide with increased cases of financial fraud, as consumers become more relaxed and distracted while shopping, travelling and socialising.

According to the 2025 Financial Sector Stability Report by the Central Bank of Kenya, losses from cyber fraud in the banking sector nearly quadrupled in 2024, reaching Sh1.5 billion. The report attributes the surge to increased reliance on card, mobile and online banking, creating opportunities for scammers who exploit urgency and familiarity.

Kenyans have been urged to remain vigilant by shopping only on verified websites, avoiding unsolicited links, setting up real-time transaction alerts and ensuring banking apps and devices are updated with the latest security features.

The advisory outlines the strengths and risks of various card options. Debit cards, while convenient for everyday purchases, should not hold all one’s funds in a single account. Credit cards can ease larger festive purchases and offer added benefits, but users are cautioned against overspending and accumulating debt. Prepaid cards are recommended for budgeting, travel and controlled spending, particularly during the holidays. Multicurrency cards provide convenience for international travel by reducing foreign transaction costs, while virtual cards are highlighted as a secure option for online shopping due to their enhanced protection features.

The Jijenge Credit CEO emphasized that understanding how each type of card works, combined with simple precautions, can help consumers enjoy a joyful and secure festive season. Kenyans were advised to monitor their accounts regularly, safeguard passwords, avoid using public Wi-Fi for financial transactions and report any suspicious activity to their banks immediately.