140,000 M-Shwari defaults - Review - Wazua

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140,000 M-Shwari defaults

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dunkang		#1 Posted : Monday, January 27, 2014 3:18:09 PM
Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831		More than 140,000 users of the mobile phone based bank account M-Shwari have been blacklisted for defaulting on loans. Commercial Bank of Africa (CBA) forwarded names of the defaulters to credit reference bureaus, potentially locking them out from accessing the loans market for at least five years or consigning them to high borrowing charges. CBA, which jointly developed the mobile phone bank account service with Safaricom, has been forwarding the names of those who fail to repay their debt for more than three months. An M-Swari loan is payable within 30 days at an interest rate of 7.5 per cent. CBA is estimated to disburse 24,000 M-Shwari loans everyday valued at about Sh7.3 million. Receive with simplicity everything that happens to you.” ― Rashi
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muganda		#2 Posted : Monday, January 27, 2014 3:36:42 PM
Rank: Elder Joined: 9/15/2006 Posts: 3,905		What an interesting discussion on Predatory Lending. 90% pa interest rate, baffling! Come to think of it, many of these premium mobile products to a large extent are predatory. Grandpa or villager doesn't understand why 20/= keeps disappearing, or how to presss **1F## to get rid of the spam. And the walk to the town is too too far. Is the Exim-Bank scenario another example of predatory lending?
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stockshunter		#3 Posted : Monday, January 27, 2014 6:32:52 PM
Rank: Member Joined: 1/16/2014 Posts: 114		Mshari might not be a cash cow it was meant to be, soon CBA might jump the ship or put stiffer lending conditions, am assuming each of the 140000 defaulters owed CBA 100 that will be a cool 14m in bad debts fear makes people live a miserable life.
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murchr		#4 Posted : Monday, January 27, 2014 7:14:55 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		stockshunter wrote: https://mobile.twitter.com/dailynation/status/427817213492338688?p=v Mshari might not be a cash cow it was meant to be, soon CBA might jump the ship or put stiffer lending conditions, am assuming each of the 140000 defaulters owed CBA 100 that will be a cool 14m in bad debts This is one side of the coin, what about those who pay up these loans? Whats the number? Safaricom doesnt give the loan, but those who transact pay safaricom to connect them to CBA. "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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bird_man		#5 Posted : Monday, January 27, 2014 7:31:04 PM
Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi		murchr wrote: stockshunter wrote: https://mobile.twitter.com/dailynation/status/427817213492338688?p=v Mshari might not be a cash cow it was meant to be, soon CBA might jump the ship or put stiffer lending conditions, am assuming each of the 140000 defaulters owed CBA 100 that will be a cool 14m in bad debts This is one side of the coin, what about those who pay up these loans? Whats the number? Safaricom doesnt give the loan, but those who transact pay safaricom to connect them to CBA. Last I heard the NPLs were at 3.5% of total portfolio.....better than many banks I know.Plus loan appraisal & processing is all auto so reduced cost of lending. Formally employed people often live their employers' dream & forget about their own.
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symbols		#6 Posted : Monday, January 27, 2014 11:58:12 PM
Rank: Elder Joined: 3/19/2013 Posts: 2,552		As of now,scom wants to be the platform others build on.The products may come and go but if they still earn the transaction costs,they don't care who's winning or losing.Either way the next 'winner' or 'loser' should depend on them(from their point of view).The next battlefield/cashcow is distribution. #askssye.com
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mpobiz		#7 Posted : Tuesday, January 28, 2014 12:52:23 AM
Rank: Elder Joined: 8/10/2010 Posts: 2,264		murchr wrote: stockshunter wrote: https://mobile.twitter.com/dailynation/status/427817213492338688?p=v Mshari might not be a cash cow it was meant to be, soon CBA might jump the ship or put stiffer lending conditions, am assuming each of the 140000 defaulters owed CBA 100 that will be a cool 14m in bad debts This is one side of the coin, what about those who pay up these loans? Whats the number? Safaricom doesnt give the loan, but those who transact pay safaricom to connect them to CBA. And what about the 3m customers who settle their loans promptly? Cba is doing big business here *Politics is just things to keep the people divided and foolish and put your trust in men and none of them can do nothing for you...*
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Angelica _ann		#8 Posted : Tuesday, January 28, 2014 8:49:17 AM
Rank: Elder Joined: 12/7/2012 Posts: 11,908		There is a wazuan in this list of defaulters. Let him pay up! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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