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KCB Mpesa account loans starting from 24%pa
Rank: Member Joined: 6/26/2008 Posts: 384
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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Dear customer, effective October 26, 2015 (today), new loans on KCB M-Pesa will attract monthly loan interest of six per cent for one month, five per cent for three months and four per cent for six months. http://www.the-star.co.k...sa-loans-interests-rise And by the way, the previous campaign Ads are just plainly DISHONEST. Does the * next to 2% even begin to make them truthful? 
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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Seems like we have too many arm-chair analysts in wazua. If you think kcb mpesa rates are high, then how about shylocks? And am not talking about backstreet "cash against Tv" guys, am talking big timers.
Meridian acceptances, platinum credit, Asl credit, samchi credit. BTW the last two are owned by the biggest hardware in kenya (asl) and Safcom's biggest dealer, Samchi telcoms.
We need to step out of the air conditioned offices belonging to our employers and have lunch with the gikomba and kamukunji guys whose weekly turnover is more than your accumulated pension after 10 years of working. And for the guys to tell you their logbooks are with their shylocks.
Dr James Mwangi has been repeating it over and over again " the problem with credit in kenya is not cost but access".
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Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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FRM2011 wrote:Seems like we have too many arm-chair analysts in wazua. If you think kcb mpesa rates are high, then how about shylocks? And am not talking about backstreet "cash against Tv" guys, am talking big timers.
Meridian acceptances, platinum credit, Asl credit, samchi credit. BTW the last two are owned by the biggest hardware in kenya (asl) and Safcom's biggest dealer, Samchi telcoms.
We need to step out of the air conditioned offices belonging to our employers and have lunch with the gikomba and kamukunji guys whose weekly turnover is more than your accumulated pension after 10 years of working. And for the guys to tell you their logbooks are with their shylocks.
Dr James Mwangi has been repeating it over and over again " the problem with credit in kenya is not cost but access". Gikomba has two distinct traders, those who import the bales, plus those who deal with selling at the unoppened bales level, then there are those who buy the bales in smaller quantities and open them - then of course those who do chagua (first camera, 2nd camera and fagia). The bale guys are millionares, they rake in big sums of cash and don't take those guys for fools, thats why barclays has a branch huko, and many banks have set up shop, its because of the first group and to a good extent the guys who open bales, they don't go to shylocks the banks come looking for them. as for the others - maisha ni ngumu, they live from day to day, to them life is not rossy and if you offered the a pensionalble office job they would jump at it.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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FRM2011 wrote:Seems like we have too many arm-chair analysts in wazua. If you think kcb mpesa rates are high, then how about shylocks? And am not talking about backstreet "cash against Tv" guys, am talking big timers.
Meridian acceptances, platinum credit, Asl credit, samchi credit. BTW the last two are owned by the biggest hardware in kenya (asl) and Safcom's biggest dealer, Samchi telcoms.
We need to step out of the air conditioned offices belonging to our employers and have lunch with the gikomba and kamukunji guys whose weekly turnover is more than your accumulated pension after 10 years of working. And for the guys to tell you their logbooks are with their shylocks.
Dr James Mwangi has been repeating it over and over again " the problem with credit in kenya is not cost but access". By the way what do they do with the TV sets if you default? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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FRM2011 wrote:Seems like we have too many arm-chair analysts in wazua. If you think kcb mpesa rates are high, then how about shylocks? And am not talking about backstreet "cash against Tv" guys, am talking big timers.
Meridian acceptances, platinum credit, Asl credit, samchi credit. BTW the last two are owned by the biggest hardware in kenya (asl) and Safcom's biggest dealer, Samchi telcoms.
We need to step out of the air conditioned offices belonging to our employers and have lunch with the gikomba and kamukunji guys whose weekly turnover is more than your accumulated pension after 10 years of working. And for the guys to tell you their logbooks are with their shylocks.
Dr James Mwangi has been repeating it over and over again " the problem with credit in kenya is not cost but access". Standards my good man. Nothing wrong charging 24%pa or the revised (72%pa, 60%pa, or 48%pa). But it reeks of dishonesty to posture as leading main-street bank, complete with international accreditation while behaving as a Shylock stating 2% with a star.Have the guts to say what you are charging! That's what any decent bank following rules of commerce should do. I watched a movie recently, The Gambler, and one mob Don brazenly tells the borrower - “I am of the universe, and you know what it's worth.
If I give you this money and you don't pay me back, there are no rules. You will get me not just what you owe me from your family, you will get me their accounts, so I can have them vacuumed from Russia. You jump off a bridge, you can do it knowing I will fill your entire bloodline.
Do you understand the gravity of your situation?"The mobster had standards!
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Rank: Member Joined: 8/27/2010 Posts: 495 Location: Nairobi
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FRM2011 wrote:Seems like we have too many arm-chair analysts in wazua. If you think kcb mpesa rates are high, then how about shylocks? And am not talking about backstreet "cash against Tv" guys, am talking big timers.
Meridian acceptances, platinum credit, Asl credit, samchi credit. BTW the last two are owned by the biggest hardware in kenya (asl) and Safcom's biggest dealer, Samchi telcoms.
We need to step out of the air conditioned offices belonging to our employers and have lunch with the gikomba and kamukunji guys whose weekly turnover is more than your accumulated pension after 10 years of working. And for the guys to tell you their logbooks are with their shylocks.
Dr James Mwangi has been repeating it over and over again " the problem with credit in kenya is not cost but access". How we legitimize massive scams such as Sasanet is absolutely crazy. These guys should be in jail, instead of loaning wanainchi stolen money at ridiculous interest rates. Sent from my Black Nokia 3310
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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Ash Ock wrote:FRM2011 wrote:Seems like we have too many arm-chair analysts in wazua. If you think kcb mpesa rates are high, then how about shylocks? And am not talking about backstreet "cash against Tv" guys, am talking big timers.
Meridian acceptances, platinum credit, Asl credit, samchi credit. BTW the last two are owned by the biggest hardware in kenya (asl) and Safcom's biggest dealer, Samchi telcoms.
We need to step out of the air conditioned offices belonging to our employers and have lunch with the gikomba and kamukunji guys whose weekly turnover is more than your accumulated pension after 10 years of working. And for the guys to tell you their logbooks are with their shylocks.
Dr James Mwangi has been repeating it over and over again " the problem with credit in kenya is not cost but access". How we legitimize massive scams such as Sasanet is absolutely crazy. These guys should be in jail, instead of loaning wanainchi stolen money at ridiculous interest rates. Salalaaa! I was none the wiser... These documents connect Mike Chege with Smart Credit Ltd, and Smart Credit with Meridian Acceptances Ltd. We have certain pages of the Articles of Association, The Mpesa documents shown are currently operating at their locations but not as Sasanet but either Smart Credit Ltd or Meridian Acceptances ltd.
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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@muganda and @mike, your point on unethical lending practices has been duly noted. My post was intended to highlight the insanely huge demand in the eeem informal money lending sector. Both kcb mpesa and mshwari are reporting crazy figures; 100,000 loan disbursements per day.
Think about ASL credit. The Ramco group is such a big conglomerate. If they gave you a contract to transport their containers from mombasa to nairobi, you would instantly become a major player in the transport sector. And yet they have jumped into this "unethical" business.
Samchi telkom has been safaricom's biggest dealer for over a decade. Now they are in this business as well.
In case you don't mind the ethical issues, there is a lot of money in this sector. There are players whose loan books have crossed the 1bn mark.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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FRM2011 wrote:@muganda and @mike, your point on unethical lending practices has been duly noted. My post was intended to highlight the insanely huge demand in the eeem informal money lending sector. Both kcb mpesa and mshwari are reporting crazy figures; 100,000 loan disbursements per day.
Think about ASL credit. The Ramco group is such a big conglomerate. If they gave you a contract to transport their containers from mombasa to nairobi, you would instantly become a major player in the transport sector. And yet they have jumped into this "unethical" business.
Samchi telkom has been safaricom's biggest dealer for over a decade. Now they are in this business as well.
In case you don't mind the ethical issues, there is a lot of money in this sector. There are players whose loan books have crossed the 1bn mark. Wazuans muwache kuharibia mwenzenyu fiashara!  Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 2/8/2013 Posts: 4,068 Location: At Large.
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Gracious Lord. Yaaani Mike Chege is still in town as Meridian acceptances. We lost 300k as a group to that Sasanet thing.I know several guys who got strokes and some permenent depression out of his activities. Thanks for the info. Will report back. Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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Rank: Member Joined: 9/27/2011 Posts: 123 Location: Nairobi
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target1360 wrote:bird_man wrote:sparkly wrote:The last time I approached a bank to take a business loan, they had crazy conditions for collateral. Is it really this easy? Of course not,those are just marketing stories. Actually this KCB thing might be more expensive when you consider account-mpesa charges. i dialled that 844~ thing and got a text that i can borrow upto sh 1000. factoring in withdrawal charges from kcb to mpesa of approx sh 55 and sh 27 being mpesa withrawal charges plus sh 20 being interest for a month. total payments =sh 102 102/1000*100%=10.2% basically unless thet qualify you for bigger sums then this seems expensive to me. There are no charges when withdrawing from kcb to mpesa. You are only charged when withdrawing from mpesa.
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KCB Mpesa account loans starting from 24%pa
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