Why can't CBK wake up and rein in these shylocks masquerading as legitimate lenders?
MOGO, PLATINUM, MOMENTUM and MWANANCHI CREDIT need serious scrutiny.
Look at this MOGO case.
A borrower took a loan of KSh 400,000, but only about KSh 300,000 was disbursed. He repaid KSh 299,369 and requested a statement, only to discover that he still owed KSh 677,381.
The total loan balance had ballooned to KSh 976,750.
The borrower went to court, and the Small Claims Court found MOGO's 86.4% interest rate, together with additional charges, unjustified. The lender had failed to prove how the figures were calculated.
Applying the in duplum rule, the Court limited the recoverable interest to the principal amount. The borrower was left to pay only KSh 100,631.
Think about that!
How does someone borrow money, make substantial repayments, and still find themselves trapped in an ever-growing debt?
CBK MUST ACT.
Kenyans need fair lending terms, transparent charges and protection from predatory lending practices.
Lenders have a right to make profits, but that right must never become a licence to exploit desperate Kenyans.
Credit should empower people, not become a lifetime sentence of debt.
They have now withdrawn the security of Governor @orengo_james and then Kasongo goes ahead to say this??
Did he just threaten opposition leaders live with accidents?? 😱😱
You wanna know whats crazy!! Listen! A president just threatened to take opposition politicians out with Accidents!!!!
Here is whats more crazy! Just a while a go.. not more than a month, a vehicle leased to the Ministry of Interior
Almost took @CGisairo OUT!!!!!!!
"Watapata accident". Does this then answer the question of what happened to Jirongo and Baba? Were those also one of those "accidents".
Considering what happened to Clive, this is a very serious issue that can't be taken lightly.
In 2022, William Ruto complained about fuel at Sh159 per litre and blamed the government.
Today, he is President, and Kenyans are paying Sh229 per litre.
The man who promised to make life cheaper has made it worse
Reject Fuel Prices
Ruto Must Go
Sifuna: We will run a country governed by the rule of law.
Ruto: Huna akili. Which country is run like that?
Sifuna: A 12-floor block makes no sense in a village set up where lifestyles are rural and chickens and other domestic animals dwell side by side with people. Besides, these houses have no social amenities.
Ruto: Wewe ni fala baanaa!
Sifuna: We will scrap the Housing Levy, seal wastage in government, block State House from consuming billions in mandazi and draw a balanced budget within 15 months, so that we return money to the pockets of ordinary citizens.
Ruto: Mr Empty! Mr Shiny things! Mr 40!
Sifuna: I swear to you that I will never send the police to kill your children! If you build beautiful roads and magnificent stadia, how do they benefit Rex Masai and Albert Ojwang, whom you have murdered in cold blood? We must build these shiny things in a just, free and democratic atmosphere where all countrymen can enjoy them ALIVE.
Ruto: Wewe Mr Extortionist! Governors wanakulilia!
Sifuna: OK, so can these alleged Governors now come forward and make the accusations themselves?
Ruto: Abujubujubuju!
Sifuna: The success of SHA can not be measured by the number of people registered on it, but by the quality of services it offers and availability of these services to the most vulnerable.
Ruto: Umetumwa na sponsor! Uko down! Uko down banaa!
Sifuna: If you are distributing employment letters to your friends at State House, the rest of the country that you have marginalised has a legitimate responsibility to send you home and install a government that will accord EQUITABLE opportunities to all and reset the nation away from your kleptocracy.
Ruto: This can't be you speaking! It must be Uhuru Kenyatta!
Previously on this show, Ruto had incessantly said "Sifuna hana agenda". But as we can see, Sifuna actually drops snippets of his governance agenda and policy positions daily, while Ruto rants angrily, shouts on the microphone and sounds like a broken 1982 Sanyo Cassette player.
Ruto ako down kama mchanga ya kaburi.
Is he done ranting about the 24K I pay for his housing scam because kuna hii 43k I pay every month for his SHA scam we also need to discuss. Tukimaliza hio ndio tuongee juu ya the 500k in PAYE he takes every single month and splashes on tea and mandazi pale state house all the while insulting us the taxpayers that carry the burden of his greed. In 2027 we are cutting the fat out of our budget to bring relief to all Kenyan workers. The housing levy will go with Ruto.
Three mourners were shot dead during the public viewing of Raila Odinga at Nairobi’s Kasarani Stadium.
#BBCAfricaEye reconstructs the shooting and investigates who opened fire.
🎥 Watch 'Goodbye Raila', here: https://t.co/EtZhJvhgDV
Its true. We recieved info that Miguna has suffered an Asthma attack. I have with me an inhaler but the OCS has become hostile. He wont let me see my client to give him the medication. #FreeMigunaMigunaNow#freemigunamiguna https://t.co/K6pQnyz3SG
NAIROBI HOSPITAL,
Confirm or debunk the info that you have an EBOLA patient in isolation as we speak
He used Jambo Jet from Congo
Cc @HonAdenDuale , CS Health
Cc @WilliamsRuto
Bcc @OleItumbi
@Aduradara61049 Women logic:
If you do DNA and it comes out positive - you should lose access to the child and the mother because you don't trust her.
However, if the DNA comes out negative - you must continue taking care of the child for the child's mental health.
WTF!