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Safcom- Call with zero balance

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Fatcat		#11 Posted : Thursday, April 02, 2009 9:49:00 AM
Rank: Member Joined: 1/15/2009 Posts: 11		Subscribers can borrow upto 50/=,and pay back within seven days-recovered when one next loads up-fee for this is 5/=.I smell a rip off in this!! Check the returns from this that safcom will make-like 10% on each loan!! Ni kubaya kweli. Whatever exists has already been named,and what man is has been known; no man can contend with one who is stronger than he.
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washiku		#12 Posted : Thursday, April 02, 2009 10:15:00 AM
Rank: Chief Joined: 5/9/2007 Posts: 13,095		Its working. 'Tough times never last but tough peope do.' A needy child's education depends on you. Click here to assist
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Iganamagana		#13 Posted : Thursday, April 02, 2009 12:00:00 PM
Rank: Veteran Joined: 3/27/2009 Posts: 1,437		@Fatcat. The service is meant for emergency situations. Anyway,MJ is in the business of minting money. Ngonja wengine watasema hana banking licence. IGANA.
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Njunge		#14 Posted : Thursday, April 02, 2009 12:14:00 PM
Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi		I swear this is a master stroke........Yaani MJ has legally beaten the law against shylocking by invoking the word 'emergency'......hehe...!!......Soon i might borrow from M-pesa and pay an agitated landlord.......heheh..! Guka wa bijuti... Nothing great was ever achieved without enthusiasm.
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Pierce		#15 Posted : Thursday, April 02, 2009 1:40:00 PM
Rank: Veteran Joined: 3/16/2009 Posts: 1,464		By the way Guka......come to think of it that's very possible. Knowing Safcom-their strategists must be working day and night on how to formulate that module(M-Pesa loans) so that they can do it with minimal risk of default/bad debts Shoun't be that difficult though!
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Much Know		#16 Posted : Thursday, April 02, 2009 1:57:00 PM
Rank: Elder Joined: 12/6/2008 Posts: 3,579		Kamzee ka peugot....I have been unable to distinguish safaricom airtime and currency...they are the same to me.....exchange rate:50bob=bamba 50... to me this is a 'loan' that compounds to over 500% Per annum....loan shark mkali... Ninajua Yote! Ras Kienyeji Man
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thunder		#17 Posted : Thursday, April 02, 2009 2:34:00 PM
Rank: Member Joined: 6/7/2008 Posts: 13		This is just ingenious!! But they should remove the 5bob charge - Zain,YU etc can copy the formulae and have it at no pay and pple will move to them. His 2nd coming is nigh! I need the Truth!!
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Faida Hasara		#18 Posted : Thursday, April 02, 2009 2:44:00 PM
Rank: Member Joined: 4/3/2009 Posts: 7		It is all about serving a need,the genius who came up with this product will sure get a deadly bonus as kenyans are wrming to credits like the americans in the late 90s. The charge is high when you talk of volumes(anyway they are there to make pesa not charity),but to each individual its a sure better deal to pay an extra 5 bob and make an emrgency call. The product also serves to purpose,earn interest(the 5bobs) and encourage voice calls,talk of killing two birds with one stone. They have really gotten this so so rightttt.
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VituVingiSana		#19 Posted : Thursday, April 02, 2009 2:46:00 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		Same style of biashara. Ati 10% for 7 days. It is like Equity who charges 3% (or more) to 'discount' a cheque. 3% per month compounded is over 50% per year! No wonder Equity does not want to show the 'real' cost of borrowing funds aka Annual Percentage Rate. Lakini for safcon,this will be a money-maker coz Kenyans like credit even if expensive. Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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McReggae		#20 Posted : Thursday, April 02, 2009 2:53:00 PM
Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi		VVS,before u go bashing equity everywhere,join them first and understand their services,people like me who are there aint complaining Make money.....then you will enjoy all the fine things in life!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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