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Meet M-Shwari from Safaricom!!!!
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dunkang
#11 Posted : Tuesday, November 27, 2012 7:54:11 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
some change this thread to ' meet safaricom's Shylock business'

But seriously, who will borrow 100,000/- at 7p.c per month. Afadhali uchukue salary advance at equity to repay after 3 month at 25p.c p.a.
Receive with simplicity everything that happens to you.” ― Rashi

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Muheani
#12 Posted : Tuesday, November 27, 2012 7:58:08 AM
Rank: Veteran

Joined: 11/20/2009
Posts: 1,402
Loan Features

How do I qualify for a loan?
• In order to qualify for a loan one has to be an active user of M-PESA for at least 6 months, save regularly on M-Shwari account and continuously use other Safaricom services such as voice, DATA and M-PESA.
How do I check how much I can borrow?
• Please dial *234*6# you will get a notification asking you if you have read and accepted the terms and conditions.
• This will also give you information on whether you are eligible for a loan and the loan amount limit that will be awarded to you.
What is the minimum amount you can borrow?
• The minimum amount you can borrow is ksh100
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murchr
#13 Posted : Tuesday, November 27, 2012 8:00:53 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Someni pole pole

Quote:
The service, which mainly targets micro-savers and borrowers, requires users to open a mobile bank account, M-Shwari , into which they can deposit as low as Sh1 in savings and borrow up to Sh100,000 payable with a one-off interest rate of 7.5 per cent.

All loans are payable within a month


Amount is subject to how much u save
"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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Gordon Gekko
#14 Posted : Tuesday, November 27, 2012 8:01:23 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Muheani wrote:
mwekez@ji wrote:
Interest rate on loans; 90% p.a.!!! (7.5% flat p.m.)
Interest rate on deposits; 5% p.a. (Maximum!!!)

Sucker!!!!!


WRONG

The interest rate is 7.5% pa

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.




@Muheani

WRONG.

It is very clear - "payable with a one-off interest rate of 7.5 per cent. All loans are payable within a month of disbursement". one-off does not mean p.a. and payable within a month means just that.
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Muheani
#15 Posted : Tuesday, November 27, 2012 8:15:16 AM
Rank: Veteran

Joined: 11/20/2009
Posts: 1,402
@ GG
I take back my comment.
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josiah33
#16 Posted : Tuesday, November 27, 2012 8:18:33 AM
Rank: Elder

Joined: 1/27/2011
Posts: 1,777
Is this the MPESA BANK people were talking about?
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Olu
#17 Posted : Tuesday, November 27, 2012 8:19:50 AM
Rank: Member

Joined: 4/24/2009
Posts: 72
hisah wrote:
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!




Meet Chege..Chege buys fresh produce at Marikiti market. Chege needs to buy goods to take to his small shop in Buruburu. Chege sees some more prduce he can buy in addition to his planned expenditure and can make more after re sell. Chege needs only 1000 bob. Chege now has an option of getting the money "pap" from mshwari and repay in the evening at the rate of 7.5% meaning he will pay 1075 back to mshwari, having made 2000 from selling his produce. Take home = 925/=.
This is the target market. the small scale people
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the deal
#18 Posted : Tuesday, November 27, 2012 8:23:12 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
.
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bkismat
#19 Posted : Tuesday, November 27, 2012 8:24:29 AM
Rank: Elder

Joined: 10/23/2009
Posts: 2,375
Shylocks are going to be hit hard especially as this product as I see will probably mostly be lending amounts of 10,000 and below. Borrowing 100,000 at such rates may be suicidial.
Shylocks remain with your ID ATM and may come and take away your property to enforce repayment. How will Safaricom enforce repayment? By reporting to the CRB?
It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt...
-Mark Twain
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dunkang
#20 Posted : Tuesday, November 27, 2012 8:36:58 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
but just as @deal has stated, safcom should have made data cheap first and go slow on this shylock bizna.

I NEED AFFORDABLE BROADBAND INTERNET. If unlimited plans are not viable, then provide 10GB for 1k.
Receive with simplicity everything that happens to you.” ― Rashi

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