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Mobile Loans Ponzi
Rank: Member Joined: 2/20/2007 Posts: 767
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MaichBlack wrote:tom_boy wrote:jmbada wrote:MaichBlack wrote:Angelica _ann wrote:Already they have sent me 'my' fuliza limit and adjusted twice upwards yet i have not accessed/used the service. This is the only serious company in Kenya. Rest are bongo lala .... including once serious Equity Bank. Let other fellows and companies perambulate as Safcom is making use of cutting edge technology to come up with new products that fellows and companies oblivious of the technology keep saying is not possible even as it is being done. I can tell you for a fact that R & D at safaricom is at another level. No other company comes close in the region let alone in the country. It is organised, well thought out, extremely well funded, proper working groups and reporting structures etc. And they get very handsome returns for their effort and investment. Yes. SCOM is "catwalking" to profit growth while banks plod along in clogs😂😂 Safcon does not loan anybody any money. The cash is from cba. Anyway, a look at CBA loan figures is disheartening. Despite so called run away success in mobile lending, their net loans figure is rather small at 115b ( compared to NIC 114b which has no mobile loans) . Tells you that defaults ni kibao zaidi huko mobile. But figures are being kept secret. So apart from conspiracy theories, what was your argument here??? And look at what all the quoted posts were discussing! Safcon does not loan anybody any money. The cash is from cba. This means that all those guys who think Safcom has pulled a fast one on banks are wrong. Safcom is just being used by banks to lend money. Safcom is not in competition with any bank. There is no liability called " mpesa deposits" in the Safcom balance sheet. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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tom_boy wrote:MaichBlack wrote:tom_boy wrote:jmbada wrote:MaichBlack wrote:Angelica _ann wrote:Already they have sent me 'my' fuliza limit and adjusted twice upwards yet i have not accessed/used the service. This is the only serious company in Kenya. Rest are bongo lala .... including once serious Equity Bank. Let other fellows and companies perambulate as Safcom is making use of cutting edge technology to come up with new products that fellows and companies oblivious of the technology keep saying is not possible even as it is being done. I can tell you for a fact that R & D at safaricom is at another level. No other company comes close in the region let alone in the country. It is organised, well thought out, extremely well funded, proper working groups and reporting structures etc. And they get very handsome returns for their effort and investment. Yes. SCOM is "catwalking" to profit growth while banks plod along in clogs😂😂 Safcon does not loan anybody any money. The cash is from cba. Anyway, a look at CBA loan figures is disheartening. Despite so called run away success in mobile lending, their net loans figure is rather small at 115b ( compared to NIC 114b which has no mobile loans) . Tells you that defaults ni kibao zaidi huko mobile. But figures are being kept secret. So apart from conspiracy theories, what was your argument here??? And look at what all the quoted posts were discussing! Safcon does not loan anybody any money. The cash is from cba. This means that all those guys who think Safcom has pulled a fast one on banks are wrong. Safcom is just being used by banks to lend money. Safcom is not in competition with any bank. There is no liability called " mpesa deposits" in the Safcom balance sheet.  The butter on the bread is the Mpesa transaction fees, the airtime you are using to pay and borrow . Quote:Enable you to access micro credit product (loan) of a minimum of KSHs.100 any time and receive your loan instantly on your M-PESA account charged at a facility fee of 7.5% Safaricom doesnt need anything else. "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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Rank: Member Joined: 2/20/2007 Posts: 767
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murchr wrote:tom_boy wrote:MaichBlack wrote:tom_boy wrote:jmbada wrote:MaichBlack wrote:Angelica _ann wrote:Already they have sent me 'my' fuliza limit and adjusted twice upwards yet i have not accessed/used the service. This is the only serious company in Kenya. Rest are bongo lala .... including once serious Equity Bank. Let other fellows and companies perambulate as Safcom is making use of cutting edge technology to come up with new products that fellows and companies oblivious of the technology keep saying is not possible even as it is being done. I can tell you for a fact that R & D at safaricom is at another level. No other company comes close in the region let alone in the country. It is organised, well thought out, extremely well funded, proper working groups and reporting structures etc. And they get very handsome returns for their effort and investment. Yes. SCOM is "catwalking" to profit growth while banks plod along in clogs😂😂 Safcon does not loan anybody any money. The cash is from cba. Anyway, a look at CBA loan figures is disheartening. Despite so called run away success in mobile lending, their net loans figure is rather small at 115b ( compared to NIC 114b which has no mobile loans) . Tells you that defaults ni kibao zaidi huko mobile. But figures are being kept secret. So apart from conspiracy theories, what was your argument here??? And look at what all the quoted posts were discussing! Safcon does not loan anybody any money. The cash is from cba. This means that all those guys who think Safcom has pulled a fast one on banks are wrong. Safcom is just being used by banks to lend money. Safcom is not in competition with any bank. There is no liability called " mpesa deposits" in the Safcom balance sheet. The butter on the bread is the Mpesa transaction fees, the airtime you are using to pay and borrow . Quote:Enable you to access micro credit product (loan) of a minimum of KSHs.100 any time and receive your loan instantly on your M-PESA account charged at a facility fee of 7.5% Safaricom doesnt need anything else. Naona umenipata.... @jmbada and @Maich, I hope you have learnt something about how safaricom makes its money from mpesa, hint hint, its not by actually giving loans. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Veteran Joined: 5/18/2008 Posts: 796
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tom_boy wrote:What other use can this money be put to except gambling? Who borrows money in the morning with confidence of repaying by midnight other than a gambler? I have a friend who sells shoes at Gikomba who does this. Borrows, buys shoes early morning, sells and pays the loan. It could be considered gambling but then all companies which borrow expecting to pay from the proceeds of their business would also be considered to be gamblers.
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Rank: Member Joined: 2/20/2007 Posts: 767
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mozenrat wrote:tom_boy wrote:What other use can this money be put to except gambling? Who borrows money in the morning with confidence of repaying by midnight other than a gambler? I have a friend who sells shoes at Gikomba who does this. Borrows, buys shoes early morning, sells and pays the loan. It could be considered gambling but then all companies which borrow expecting to pay from the proceeds of their business would also be considered to be gamblers. I hope you are not about to generalise and tell us that shs 1b in 8days was pumped into mama mboga and shoes hawking businesses across the country. This is in addition to mshwari, kcb mpesa and eqity mobile loans. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Veteran Joined: 5/18/2008 Posts: 796
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tom_boy wrote:mozenrat wrote:tom_boy wrote:What other use can this money be put to except gambling? Who borrows money in the morning with confidence of repaying by midnight other than a gambler? I have a friend who sells shoes at Gikomba who does this. Borrows, buys shoes early morning, sells and pays the loan. It could be considered gambling but then all companies which borrow expecting to pay from the proceeds of their business would also be considered to be gamblers. I hope you are not about to generalise and tell us that shs 1b in 8days was pumped into mama mboga and shoes hawking businesses across the country. This is in addition to mshwari, kcb mpesa and eqity mobile loans. You asked who, besides gamblers, borrows money with the confidence to pay by evening. And that is what I’ve answered. You should rephrase your question if you needed to know who borrowed the entire 8bn..l suppose that would include hawkers, thieves, gamblers, business people, drunkards, priests etc.. I leave generalizations to you.
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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mozenrat wrote:tom_boy wrote:mozenrat wrote:tom_boy wrote:What other use can this money be put to except gambling? Who borrows money in the morning with confidence of repaying by midnight other than a gambler? I have a friend who sells shoes at Gikomba who does this. Borrows, buys shoes early morning, sells and pays the loan. It could be considered gambling but then all companies which borrow expecting to pay from the proceeds of their business would also be considered to be gamblers. I hope you are not about to generalise and tell us that shs 1b in 8days was pumped into mama mboga and shoes hawking businesses across the country. This is in addition to mshwari, kcb mpesa and eqity mobile loans. You asked who, besides gamblers, borrows money with the confidence to pay by evening. And that is what I’ve answered. You should rephrase your question if you needed to know who borrowed the entire 8bn..l suppose that would include hawkers, thieves, gamblers, business people, drunkards, priests etc.. I leave generalizations to you. Nice one 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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Rank: Member Joined: 2/20/2015 Posts: 468 Location: Nairobi
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Got a call from Okash (didn't even know what Okash is, caller had to clarify it is a mobile loan App like TALA.)
So someone borrowed a mobile Okash loan and put me as a 'Referee' and the person is not repaying the loan or picking the calls so they call me. Looks like the mobile App loans people are calling friends & relatives of loan defaulters as a tactic to recover their bad loans...Told the caller off and She hanged up..so rude.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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kawi254 wrote:Got a call from Okash (didn't even know what Okash is, caller had to clarify it is a mobile loan App like TALA.)
So someone borrowed a mobile Okash loan and put me as a 'Referee' and the person is not repaying the loan or picking the calls so they call me. Looks like the mobile App loans people are calling friends & relatives of loan defaulters as a tactic to recover their bad loans...Told the caller off and She hanged up..so rude. How jua kali is this one? Did you sign? "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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Rank: Member Joined: 2/20/2015 Posts: 468 Location: Nairobi
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murchr wrote:kawi254 wrote:Got a call from Okash (didn't even know what Okash is, caller had to clarify it is a mobile loan App like TALA.)
So someone borrowed a mobile Okash loan and put me as a 'Referee' and the person is not repaying the loan or picking the calls so they call me. Looks like the mobile App loans people are calling friends & relatives of loan defaulters as a tactic to recover their bad loans...Told the caller off and She hanged up..so rude. How jua kali is this one? Did you sign? No, did not sign nothing. The borrower using the App just lists friends/family and their contacts...without their consent. Other than terrorising with calls/SMS there is no way Okash can recover this money from 'referees'
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