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Ubapesa
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mawinder
#31 Posted : Thursday, May 10, 2018 2:04:25 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Wondergirl wrote:
ngapat wrote:
So far so good. I have increased my investment to 12000 and my interest ìs over 600bob in two weeks. One client borrowed sh 1000 for ten days only to repay after one day. Considering going big

Shame on you
I would strongly advise you against going big... this is big time risk, the probability of losing is much higher than that of gaining. The idea is brilliant, but the achelli's heel here is defaulters. I'm sure there are some "wise"Kenyans, who don't give a f****k for credit score who are working overtime borrowing and with no intention of repaying. Believe me, there will always be people who know how to beat the system, I mean who would have guessed that you could drill a hole into a bank that is in the middle of town, and right opposite a police station!!
P.S ata mimi na cheza na pesa kidogo kama hiyo yako...

Ubapesa claims to pay one in 60 days in case of default..Planning to go big..I noticed a fellow who constantly deposits shs 1m for 30 days and another shs 200k for 20 days
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Wondergirl
#32 Posted : Thursday, May 10, 2018 2:34:53 PM
Rank: Member

Joined: 9/12/2009
Posts: 312
mawinder wrote:
Wondergirl wrote:
ngapat wrote:
So far so good. I have increased my investment to 12000 and my interest ìs over 600bob in two weeks. One client borrowed sh 1000 for ten days only to repay after one day. Considering going big

Shame on you
I would strongly advise you against going big... this is big time risk, the probability of losing is much higher than that of gaining. The idea is brilliant, but the achelli's heel here is defaulters. I'm sure there are some "wise"Kenyans, who don't give a f****k for credit score who are working overtime borrowing and with no intention of repaying. Believe me, there will always be people who know how to beat the system, I mean who would have guessed that you could drill a hole into a bank that is in the middle of town, and right opposite a police station!!
P.S ata mimi na cheza na pesa kidogo kama hiyo yako...

Ubapesa claims to pay one in 60 days in case of default..Planning to go big..I noticed a fellow who constantly deposits shs 1m for 30 days and another shs 200k for 20 days

Like I said I too have invested, albeit small time, hence I wish for it to grow... just be cautious, If its short term, I make small money but don't lose much. If its long term, I will re- invest my interest and watch m money grow...
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Mike Ock
#33 Posted : Thursday, May 10, 2018 4:05:21 PM
Rank: Member

Joined: 1/22/2015
Posts: 682
There is a big loophole that people are using with these apps: they are using one app to pay the other. They create a chain of loans and as long as there are new loan apps coming out, they can keep borrowing from Peter to pay Paul. This means that technically if these apps keep proliferating ad infinitum, every new app will find business until a regulatory body clamps down. So maybe the opportunity for now is in creating yet another loan app
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Cornelius Vanderbilt
#34 Posted : Friday, May 11, 2018 8:38:53 AM
Rank: Member

Joined: 8/15/2015
Posts: 817
Kenyan just DONOT learn.They donot.even when pyramid schemes went down with billions they donot learn.why is cbk allowing this apps to provide financial services with the required licenses?????
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Stiffler
#35 Posted : Friday, May 11, 2018 1:02:16 PM
Rank: Member

Joined: 11/7/2017
Posts: 186
Location: Nairobi
Cornelius Vanderbilt wrote:
Kenyan just DONOT learn.They donot.even when pyramid schemes went down with billions they donot learn.why is cbk allowing this apps to provide financial services with the required licenses?????


Well, this is Kenya
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Wororo
#36 Posted : Saturday, May 12, 2018 9:07:24 AM
Rank: Member

Joined: 1/30/2011
Posts: 207
It seems Ubapesa is swamped with more lenders than borrowers...

Just curious how the equilibrium will be achieved to benefit all parties in "equal measure" ...
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mawinder
#37 Posted : Saturday, May 12, 2018 9:28:30 AM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Wororo wrote:
It seems Ubapesa is swamped with more lenders than borrowers...

Just curious how the equilibrium will be achieved to benefit all parties in "equal measure" ...

Have noticed that too especially on the 10 days loans.. And you can imagineit is mid month when employees should be broke...
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dunkang
#38 Posted : Sunday, May 13, 2018 12:39:49 PM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
Hii Kenya ina maneno wajameni.

This technology age will be the end of us.
Receive with simplicity everything that happens to you.” ― Rashi

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Juojo
#39 Posted : Monday, May 14, 2018 10:06:24 AM
Rank: Member

Joined: 7/7/2009
Posts: 41
Mike Ock wrote:
There is a big loophole that people are using with these apps: they are using one app to pay the other. They create a chain of loans and as long as there are new loan apps coming out, they can keep borrowing from Peter to pay Paul. This means that technically if these apps keep proliferating ad infinitum, every new app will find business until a regulatory body clamps down. So maybe the opportunity for now is in creating yet another loan app


The other big loophole is identity theft, which is hitting the big boys like Tala and Branch bigtime. Just that they don't disclose this and only a few players have managed to come up with a solution to this.
Guyz are registering mpesa accounts with fake IDs, then borrow from these guyz with no intention of paying back. They are actually patient enough to build their credit limits, then take off.

Though I like the concept around Ubapesa Applause
Happiness is not the absence of problems, It's the ability to deal with them
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kayhara
#40 Posted : Monday, May 14, 2018 12:52:38 PM
Rank: Veteran

Joined: 5/5/2011
Posts: 1,059
Juojo wrote:
Mike Ock wrote:
There is a big loophole that people are using with these apps: they are using one app to pay the other. They create a chain of loans and as long as there are new loan apps coming out, they can keep borrowing from Peter to pay Paul. This means that technically if these apps keep proliferating ad infinitum, every new app will find business until a regulatory body clamps down. So maybe the opportunity for now is in creating yet another loan app


The other big loophole is identity theft, which is hitting the big boys like Tala and Branch bigtime. Just that they don't disclose this and only a few players have managed to come up with a solution to this.
Guyz are registering mpesa accounts with fake IDs, then borrow from these guyz with no intention of paying back. They are actually patient enough to build their credit limits, then take off.

Though I like the concept around Ubapesa Applause


Sad Sad Sad I think investing in this at the moment is risky most guys signing up for new loan app are looking to borrow to pay for the other apps, the early birds kina TALA and branch have reaped big just like betting firms SportPesa did and now we have too many betting firms.
Also people don't know but most of loan apps are ther not to give loans but to harvest DATA they ask you to sigh in with all your detail even colour copies of your documents then you find your accounts cleaned.


To Each His Own
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