Nipate
Forum => Kenya Discussion => Topic started by: RV Pundit on September 14, 2022, 10:11:19 AM
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Samson Ogola
32m ·
Lakini this country was so anti-business...
Yaani, I borrow 3000/- from NCBA's M-shwari and repay it in a day or two instead of 30 days.
This trend continues for more than a year and M-shwari raises my limit to 15k...which I borrow to support my online business and repay before time.
I believe we have a relationship with this bank.
Then one day...
I borrow 15k as usual...invest it online...but then 2 days later, calamity hits. Just lost a loved one.
I'm devastated...can't engage on online work to generate income and repay the loan.
So, as a decent businessman, I find away to reach out to the guys at M-shwari to explain that I had an emergency and won't be in a position to repay the loan as usual or in time.
Wah! I wish I hadn't called!
The lady, a human being not some bot, told me that that wasn't their problem. I had to repay my loan or risk being blacklisted.
I repeat, that's a fellow human being telling me to suck it up and pay!
Well, circumstances couldn't allow me to repay in time as I had stated. I ended up repaying a bit late (after thousands of SMS from M-shwari...especially the ones telling me I'd be allowed to borrow again).
Wapi?!
When I repaid, NCBA's M-shwari had blacklisted me for 5 years.
No Bank could give me a loan to promote my business because I delayed ONCE to repay a loan.
They didn't care that I didn't owe the money anymore, KCB and Equity told me that I was INELIGIBLE for loans.
Forget that I was faithfully saving with these banks with aim of getting a loan!
Kusema Okweli...
The CRB was the worst policy to ever been implemented in this country.
I know people who have been been blacklisted for a less than 3000/-. Though they'd repaid the loan, they are banned from ever borrowing...unless from shylocks and other BRUTAL lenders.
So, forgive me for being too excited with Dr. William Ruto's decision to introduce CREDIT RATING SYSTEM.
This way, you have a Credit Score, based on how well you repay your loans.
Those with bad scores will still access loans at higher interest rates while those with good credit scores getting the same loans at lower interest.
For instance, we can both access 100k loan but you (with a good score) repay at 5% interest na mimi (with bad score) repay at 15%.
The net effect?
Well, everyone will strive to improve their scores by borrowing and repaying promptly to also enjoy the low interests.
Banks will have money and customers will have loans to boost their businesses.
In the end, more people will be paying tax so that the government can offer better services.
By the way, how much did they blacklist you for?