Digital Loans
Finance
Upcoming Regulation of Digital Lending
In recent times, the Central Bank of Kenya Governor Patrick Njoroge has noted that there are risks to Kenyans who use their mobile phones to take loans thus a need for regulation in the booming digital credit sector. Whilst many of these small digital credit loans are extremely valuable for people facing emergencies, managing cash […]
Read More
Finance
SACCO
SACCO Leadership – What you need to know
From time to time we, Kenyans wake up to the news of yet another savings and credit cooperative society (Sacco) in trouble. The truth is, financial institutions don’t suddenly become broke or find themselves under the heavy weight of non-performing loans. Such things develop over time. When investigated, collapsing SACCOs will always show that bad […]
Read More
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 in 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. The lack of adequate […]
Read More
SACCO
SACCOS Constitution , Rules and Regulation
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 of financial resources in the country. Many Kenyans prefer SACCOs since […]
Read More
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 […]
Read More
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 that tend to provide the best services in the 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 […]
Read More
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 […]
Read More
Finance
General
SACCO
SACCO Software
Deciding Which SACCO to Join
Finding the right Sacco in Kenya, one that meets your goals is essential, not only for your financial growth but also for the safety of your money. It is, therefore, vital to do your homework beforehand to ensure you’re settling for the best deal. There are unlimited options for Saccos in Kenya, which is an excellent thing because […]
Read More
Finance
SACCO Software
How Secure is Your Money with Your Sacco
Some people have lost money in rogue Sacco that has conned people of their savings. This is not a trend in Kenya but neither should it deter you from saving in a Sacco, if you wish to. To begin with, Sacco is a great initiative that has seen many people save money and access loans at […]
Read More
Finance
General
SACCO
SACCO Software
Difference between SACCOs and Microfinance
Are you interested in starting a business? Then you need resources and capital. So what do you do? If you are like most Kenyans, you head to your bank and inquire about a loan. While you may successfully get a loan, if you are considered low-income, the odds are you will be denied. That’s where […]
Read More