Day: November 1, 2019

Digital Loans
Finance

Shylocks have gone hi-tech in Kenya

Shylocks have gone hi-tech in Kenya. Mobile phone money lenders have grown like mushrooms Kenya. Numerous mobile lenders have continued to thrive in the local market, offering loans at exorbitant interest rates and ruthlessly going after individuals who default by engaging their family members with data mined through the applications. Lack of adequate guidelines has […]

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SACCO

Saccos and their formation

Kenya has one of the largest financial sectors in the region. This has really shaped the economic growth and development in the country. A major contributor to this milestone goes to the effort of Saccos. They have played a major role in the mobilization financial resources in the country. Many Kenyans prefer Saccos since they […]

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Digital Loans

How to get a digital loan

Are you in a fix and need quick cash? A digital loan is the way to go. As a matter of fact, getting a traditional loan from a bank or a Sacco takes time and if you need money now, it may not be the best option for you.  With today’s technology you can get […]

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Finance
SACCO

Front office services to expect from your SACCO

Saccos are member-owned financial institutions that offer savings and credit services to their members.  In Kenya, there are many Saccos which tend to provide the best services in form of financial aid and banking services. In an effort to provide better services to their members, they ensure that their members are comfortable with their services […]

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Digital Loans
Finance

A comparative look at digital lenders

Buying electricity on credit through Okoa Stima is the most expensive mobile lending in Kenya. The mobile-based electricity loan, known as Okoa Stima, attracts a monthly interest of 43.4 percent, making it the most expensive, while Equity Bank’s Equitel is the least costly at 2.1 percent per month. Other costly digital lenders are Pesa na […]

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