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Safcom- Call with zero balance
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washiku
#1 Posted : Wednesday, April 01, 2009 7:00:00 PM
Rank: Chief


Joined: 5/9/2007
Posts: 13,095
Safcoms new 'Okoa Jahazi' service. For emergencies when umeishiwa na credo...

Just dial *131* and get some credo. To be repaid in 7dys.

As usual,terms and conditions apply.

mmmmmm....whats ua view??



'Tough times never last but tough peope do.'
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jerry
#2 Posted : Wednesday, April 01, 2009 7:48:00 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
It would be a good idea to counter the annoying 'please call me,thank you' but most SafCons r not credit-worthy. Si uVuke tu.

Ecs 11.2 Give portions to seven,yes to eight,for you do not know what disaster may come upon the land.
The opposite of courage is not cowardice, it's conformity.
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cxz
#3 Posted : Wednesday, April 01, 2009 8:10:00 PM
Rank: Member


Joined: 2/5/2007
Posts: 126
washiku umechelewa. Jinga day ended at 12pm

'A stone is heavy,and the sand weighty; but a fool’s wrath is heavier than them both.' (Proverbs 27:3).
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mkagollah
#4 Posted : Thursday, April 02, 2009 12:09:00 AM
Rank: Member


Joined: 4/2/2009
Posts: 26
I am imagining of a situation where a quarter of Safcom subscribers request for the same in a given day!That would be 3million times the Kes 50 credit which will be 150million in aday.commision on the same is kes 5 times the 3million subscribers.Wololo thats 15million without ku struggle yaani!!I see Safcom is there to make money.Come on Vain-Zain- do something!!!

mkagollah
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Pierce
#5 Posted : Thursday, April 02, 2009 4:49:00 AM
Rank: Veteran


Joined: 3/16/2009
Posts: 1,464
@ Mka.. which commissions are five times....

By the way this thing is real sio maneno ya siku ya wajinga
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novestor
#6 Posted : Thursday, April 02, 2009 5:49:00 AM
Rank: Member


Joined: 9/4/2008
Posts: 48
And others follow......

Learn something new everyday
Learn Something New Every Day!
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Njunge
#7 Posted : Thursday, April 02, 2009 5:51:00 AM
Rank: Elder


Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
How much are they kopesharing?......how do they determine ones creditworthness??....How do they recover the debt??....

Guka wa bijuti...
Nothing great was ever achieved without enthusiasm.
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McReggae
#8 Posted : Thursday, April 02, 2009 5:56:00 AM
Rank: Elder


Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Depends on your re-loading history,kama wewe ni wa mia kila mwezi they will give you 20bob,otherwise 50bob for dependable customers!!!!

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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Sober
#9 Posted : Thursday, April 02, 2009 8:13:00 AM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
Am told if you dial *131#1 then you borrow bamba 50 which you will repay when you top up. Anyone who has tried this!

A likely impossibility is always preferable to an unconvincing posibility.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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mukiha
#10 Posted : Thursday, April 02, 2009 9:04:00 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
Great idea.....I thought it should have gone very well with CETEL's 'Tuendelee Kuongea' slogan...especially during the PEV when there was a nation-wide airtime shortage.

Still; a great idea.

Zain!! Amkeni!!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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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.'
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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: 3,548
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!
A New Kenya
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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: 18,103
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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