Sorry Reggae man, it should have been PSEUDO JOURNALISTS.

Of course I can go around peeing at my neighbours front lawn and everyone accepts that as just fine. It doesn't mean that it is fine.

Any rate above what is a reasonable rate of return is shylocking. Whether the guys in River Road charge 10% or 40% is beside the point.

In fact, we are now creating a shylocking monopoly.

I have no doubt that someone will be able to pay it back. That is not the point.

The point is, what role is the gov't taking in encouraging shylocking as a legitimate business?

How long will it for banks to change their model and just start giving out loans willy nilly? After all, if Mpesa has the blessings of CBk, why can't they?

It's not about Mpesa. Its about the CBK bending its own rules and regulations to please one entity.

All you reading this, know deep down, there is something fundamentally wrong about this. It doesn't matter if Mpesa makes money off it or not. A can of worms is being opened as we watch.

@alma, somewhere in the globe some banks charge as low as 4% as interest, ours were charging upto 29% at some point this year....were they shylocking then....this is a matter of choice and for me the convenience beats everything else!!!

For those who already have M-Shwari account, dial *197*6# and check how much you can borrow. May be then we can ask ourselves how this figure is calculated and whether one can easily default.

intr.v. shy·locked, shy·lock·ing, shy·locks
To lend money at exorbitant interest rates.

It doesn't matter the amount, rate or the ability to pay, or whether others are more expensive.

To lend money at exorbitant interest rates.


Dunkang...10000 kenyans borrow 10000 bob just before the election. Haki yetu go on the street. You will come back here screaming bloody murder.

Of course I may be wrong. After all, I'm no economist and don't have a degree. I really doubt that though.

This is a product that can bring the whole country to its knees if there is even a semblance of disorder. It must be regulated.

Regulation can sometimes be a hindrance to innovation!!!...Safcom and CBA have had a team working on this for the last 12months!!!