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Meet M-Shwari from Safaricom!!!!
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K22
#71 Posted : Tuesday, November 27, 2012 6:37:40 PM
Rank: Member

Joined: 9/12/2008
Posts: 436
Location: illobi
How do banks track down defaulters? They use the little information they have to try and track you down.

On the other hand Safaricom has a huge database of numbers you have called (frequently) for the longest period. You default, your relatives, friends, employers are accosted and believe you me, THEY WILL FIND YOU!!

This is a great product - in my own view. Most banks are currently offering Deposit & withdrawals services using/via MPesa and these transactions are charged (between 20/- to 100/-).

If i receive a ka loose 10K, it makes more sense to deposit to my Mshwari Ac until a time when I need it with NO Charges and I get to earn a little interest while building my credit worthiness for a rainy day when i may need to "Okoa Jahazi"

Off to read the T&Cs

A successful man is one who makes more money than his wife can spend. A successful woman is one who can find such a man
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Mucene
#72 Posted : Tuesday, November 27, 2012 7:25:03 PM
Rank: Member

Joined: 8/4/2012
Posts: 155
Location: Kenya
alma wrote:
Laughing out loudly Laughing out loudly Now goal posts are shifting.

So is Mshylock a CBA product or a Safaricom product?
If mama mboga decided that she is ok with the inconvenience of going to the bank, will CBA give her an account at ksh.100?
What is the nature of this "partnership"?

Let's not try to confuse the uneducated like me.

Now that it is being run by CBA which of the risks I expressed earlier have been mitigated? Or is the shylocking now more palatable.

My foot!




http://www.safaricom.co....ERMS_AND_CONDITIONS.pdf

I think it's a CBA product with Safaricom providing the link between the bank and the customer and a lot of infor to the bank. CBK is definately happy because it will not only bring money into the mainstream financial institution (read CBA) but also loan cash to the "unloaned" albeit expensively
If you don't want to go to plan B have a good plan A.
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Mukiri
#73 Posted : Tuesday, November 27, 2012 8:39:00 PM
Rank: Elder

Joined: 7/11/2012
Posts: 5,222
K22 wrote:
How do banks track down defaulters? They use the little information they have to try and track you down.

On the other hand Safaricom has a huge database of numbers you have called (frequently) for the longest period. You default, your relatives, friends, employers are accosted and believe you me, THEY WILL FIND YOU!!

This is a great product - in my own view. Most banks are currently offering Deposit & withdrawals services using/via MPesa and these transactions are charged (between 20/- to 100/-).

If i receive a ka loose 10K, it makes more sense to deposit to my Mshwari Ac until a time when I need it with NO Charges and I get to earn a little interest while building my credit worthiness for a rainy day when i may need to "Okoa Jahazi"

Off to read the T&Cs


Laughing out loudly Laughing out loudly Ati your mathe gets to learn you are taking loans and not paying up?Sad Why are you scaring people?

Proverbs 19:21
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essyk
#74 Posted : Tuesday, November 27, 2012 8:42:28 PM
Rank: Elder

Joined: 11/15/2011
Posts: 4,518
mhhhh not bad.This will really sort me out fast.
"The true measure of a man is how he treats someone who can do him absolutely no good.
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ChessMaster
#75 Posted : Tuesday, November 27, 2012 9:12:14 PM
Rank: Elder

Joined: 2/23/2009
Posts: 1,626
Mukiri how you put it sounds funny!!! I guess K22 is still right on that.
Uncertainty is certain.Let go
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maka
#76 Posted : Tuesday, November 27, 2012 9:50:11 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Lets just wait and see if this thing adds some revenue to scoms bottom line thats the only way we will know if it works...up to now i knw a couple of people who have already joined...next up insurance...bulge bracket firm all the way.
possunt quia posse videntur
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murchr
#77 Posted : Tuesday, November 27, 2012 10:56:05 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Its amazing how some wazuans show up here to critize thinking that others/planners have not asked themselves the same questions they are asking.
"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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Impunity
#78 Posted : Tuesday, November 27, 2012 11:02:51 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
dunkang wrote:
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.


Ditto!
Member it is.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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tbag333
#79 Posted : Wednesday, November 28, 2012 4:43:48 AM
Rank: Hello

Joined: 6/18/2011
Posts: 3
This to me is the big thing after the mpesa.
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rock
#80 Posted : Wednesday, November 28, 2012 8:05:05 AM
Rank: Veteran

Joined: 2/25/2009
Posts: 973
I have joined esp coz of the quick loan access.I may need emergency first aid one of these days.
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