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Meet M-Shwari from Safaricom!!!!
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Caveman
#1 Posted : Tuesday, November 27, 2012 12:04:52 AM
Rank: Member

Joined: 4/15/2009
Posts: 371
I bet this will be the next big thing after Mpesa.
http://www.businessdaily...0/-/kkxxo2z/-/index.html
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itz
#2 Posted : Tuesday, November 27, 2012 12:26:16 AM
Rank: Member

Joined: 3/20/2009
Posts: 348
[quote=Caveman]I bet this will be the next big thing after Mpesa.
http://www.businessdaily.../-/kkxxo2z/-/index.html[/quote]

can someone please confirm if the 7.5% is per month or per annum.if it is the latter then it would translate to 0.61% monthly compound rate.However if it is 7.5% per month then it translates to 138% pa compounded which is worse than getting a loan from a shylock
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dunkang
#3 Posted : Tuesday, November 27, 2012 12:47:59 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
i am very happy for this thing. At work, most of colleagues have 500 to 5,000 bobs tu-loan that they always promise to pay end month.

FINALY, when they come with their stories, i will always answer, 'have you tried M-Shwari?'.
Receive with simplicity everything that happens to you.” ― Rashi

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InnovateGuy
#4 Posted : Tuesday, November 27, 2012 2:13:18 AM
Rank: Veteran

Joined: 11/15/2012
Posts: 1,110
This is it!

Any serious banker would tell you that this is the deal. Airtel-Faulu partnership may not have penetrated the "unbanked" segment, but going by the number of Safaricom subscribers, this is going to have massive realignments.

Short term: Micro-financial institutions could be in trouble because they target the same client base. And for those small loaning corporations charging exorbitant interest rates of up to 20 %, the time to close shop is here. Banks, will also feel the pinch.

Long term: Safaricom profits will be up in the coming years.

My query:
Is there any "hidden" charges for operating the M-Shwari account?

How do you accurately determine the credit worthiness of an individual using phone transactions? Remember Lehman Brothers? The bank collapsed coz of loaning individuals who could not pay their mortgages.
Live Full Die Empty - Les Brown.
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mwekez@ji
#5 Posted : Tuesday, November 27, 2012 5:16:07 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Interest rate on loans; 90% p.a.!!! (7.5% flat p.m.)
Interest rate on deposits; 5% p.a. (Maximum!!!)

Sucker!!!!!
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Muheani
#6 Posted : Tuesday, November 27, 2012 7:30:24 AM
Rank: Veteran

Joined: 11/20/2009
Posts: 1,402
mwekez@ji wrote:
Interest rate on loans; 90% p.a.!!! (7.5% flat p.m.)
Interest rate on deposits; 5% p.a. (Maximum!!!)

Sucker!!!!!




The interest rate is 7.5%

The loan is payable within 30 days. However, you can repay the loan before the due date and borrow again. If you pay the loan in less than 30 days your loan limit qualification will increase.
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  | | Edit by user: Tuesday, November 27, 2012 8:15 AM | Reason: Not specified
dnn
#7 Posted : Tuesday, November 27, 2012 7:31:15 AM
Rank: Member

Joined: 7/17/2006
Posts: 133
[quote=Caveman]I bet this will be the next big thing after Mpesa.
http://www.businessdaily.../-/kkxxo2z/-/index.html[/quote]

That's alright, it'll be a ready access to fast funds-subject to saving with them. From another point of view, isn't it identical to what shylocks do only at lower interest? i.e repay in 1 month at one off interest rate(7.5%)
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murchr
#8 Posted : Tuesday, November 27, 2012 7:44:14 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
InnovateGuy wrote:
This is it!

Any serious banker would tell you that this is the deal. Airtel-Faulu partnership may not have penetrated the "unbanked" segment, but going by the number of Safaricom subscribers, this is going to have massive realignments.

Short term: Micro-financial institutions could be in trouble because they target the same client base. And for those small loaning corporations charging exorbitant interest rates of up to 20 %, the time to close shop is here. Banks, will also feel the pinch.

Long term: Safaricom profits will be up in the coming years.

My query:
Is there any "hidden" charges for operating the M-Shwari account?

How do you accurately determine the credit worthiness of an individual using phone transactions? Remember Lehman Brothers? The bank collapsed coz of loaning individuals who could not pay their mortgages.


I expect some noise from bankers...I also wonder how they will determine ones credit worthy-ness Was thinking of offloading this bank but am seeing the future is exciting.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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hisah
#9 Posted : Tuesday, November 27, 2012 7:44:45 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
mwekez@ji wrote:
Interest rate on loans; 90% p.a.!!! (7.5% flat p.m.)
Interest rate on deposits; 5% p.a. (Maximum!!!)

Sucker!!!!!

I thought the article states this is a micro-lending product for micro-savers thus the repayment period of a month only.

Those small loans of say 2000/- across say 5 million savers on mpesa equals 10B advanced. Workout the interest & the mpesa withdrawal fees. CBA & Mpesa bank are in the monies. Now add the frequency of re-lending in those 30 days... That's a big candy stick. Microfinancers are up against a huge fight!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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obiero
#10 Posted : Tuesday, November 27, 2012 7:54:10 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,321
Location: nairobi
only ua mother can lend u at 7.5% p.a.. dont mislead us
COOP, IMH, KEGN, KQ, MTNU
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