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Law Capping interest rates
Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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washiku wrote:bird_man wrote:It's a pity that CRBs are seen as evil institutions that only blacklist individuals .GOK/CBK should ensure that banks share positive credit info as well...that way, customers get a proper credit score that aggregates both negative & positive lending info. It also helps differentiate between bad,good and very good customers. Very good customers(e.g repaid HELB,5 Sacco loans,4 bank loans & 30 mobile loans bila default) can get hire purchase deals at Nakumatt,get lower interest rates with Banks,get deals with Zuku etc etc. This would reduce rates and give real power to the consumer. Black listing & rate capping are short-cuts instead of offering the full solution. The law allows the banks to list positive lending info. In fact, it is the sama banks that have not been keen in doing so. Lending was simple, as long as one is not listed, you get. If you are listed, you go clear and come back and get the loan. Banks did not have any motivation to get their hands dirty in such analytics because the market was big, returns were huge and thus they could still make huge profits even with high NPLs. But now that the returns are low, such analytics will make a lot of sense, hence the same banks will start changing their behaviors and listing both positive and negative info. Intelligence lending will be their only way. They still wont share positive credit info....this is where CBK needs to come in and flex...suspend their settlement accounts or something! The 3 big banks control 60% of the market share...EQTY,KCB,Coop,CBA have no interest in letting Victoria or Ecobank get data about their customers. CBK needs to flex their muscle here and this is what will truly create competition in lending. Anything else is artificial and a short cut which denies the informal individuals and SME from accessing credit. I'd love to hear a radio advert one day saying "All customers between age 25-28 with a credit score of 2 or below, rush to Nakumatt for a credit deal on the new Samsung etc..or all wazees between age 30-45 rush to Toyota Kenya and get a pickup at 13% financing for your biashara etc etc" Formally employed people often live their employers' dream & forget about their own.
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Rank: Chief Joined: 5/9/2007 Posts: 13,095
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bird_man wrote:washiku wrote:bird_man wrote:It's a pity that CRBs are seen as evil institutions that only blacklist individuals .GOK/CBK should ensure that banks share positive credit info as well...that way, customers get a proper credit score that aggregates both negative & positive lending info. It also helps differentiate between bad,good and very good customers. Very good customers(e.g repaid HELB,5 Sacco loans,4 bank loans & 30 mobile loans bila default) can get hire purchase deals at Nakumatt,get lower interest rates with Banks,get deals with Zuku etc etc. This would reduce rates and give real power to the consumer. Black listing & rate capping are short-cuts instead of offering the full solution. The law allows the banks to list positive lending info. In fact, it is the sama banks that have not been keen in doing so. Lending was simple, as long as one is not listed, you get. If you are listed, you go clear and come back and get the loan. Banks did not have any motivation to get their hands dirty in such analytics because the market was big, returns were huge and thus they could still make huge profits even with high NPLs. But now that the returns are low, such analytics will make a lot of sense, hence the same banks will start changing their behaviors and listing both positive and negative info. Intelligence lending will be their only way. They still wont share positive credit info....this is where CBK needs to come in and flex...suspend their settlement accounts or something! The 3 big banks control 60% of the market share...EQTY,KCB,Coop,CBA have no interest in letting Victoria or Ecobank get data about their customers. CBK needs to flex their muscle here and this is what will truly create competition in lending. Anything else is artificial and a short cut which denies the informal individuals and SME from accessing credit. I'd love to hear a radio advert one day saying "All customers between age 25-28 with a credit score of 2 or below, rush to Nakumatt for a credit deal on the new Samsung etc.. or all wazees between age 30-45 rush to Toyota Kenya and get a pickup at 13% financing for your biashara etc etc" Haki nimezeeka yani 
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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http://www.nation.co.ke/...84524-hqlbd4z/index.htmlWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Is it true that KCB MPESA loan is no longer on offer.
Did KCB make an announcement to that effect
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Rank: New-farer Joined: 3/12/2014 Posts: 96
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streetwise wrote:Is it true that KCB MPESA loan is no longer on offer.
Did KCB make an announcement to that effect http://www.the-star.co.k...s-mobile-loans_c1427201
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Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
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i see many people complaining about not being able to access loans via the service. I dont even know why KCB was so quick to react to Equity's mobile loan rate reduction move when they would have just sat back and watched. Now its like they have shut down, losing all the goodwill gained. Meanwhile Mshwari is still working perfectly, got my loan approved in 20 seconds when i had an emergency.
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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I reported that on Monday last week. The Equitel loan limits were also revised downwards last week. See nobody will offer a STRANGER 1,000sh and ask for 12sh return in 30days. There are better (less risky) places to invest your 1K bob at. Formally employed people often live their employers' dream & forget about their own.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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This decision I am sure was made by guys in finance.
The guys in marketing and strategy must be crying and very sad seeing their customers migrate
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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Coop share price is firing cylinders up. Gaining slowly anyone with the reason? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 14,321 Location: nairobi
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Ericsson wrote:Coop share price is firing cylinders up.
Gaining slowly anyone with the reason? Only question the abnormal COOP, IMH, KEGN, KQ, MTNU
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Law Capping interest rates
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