In 2019,
I borrowed a KSH 4.5 million bank loan from a reputable bank to start businesses.
It was to run for 72 months - till 2025 August.
Today, I checked its status, and the balance I am supposed to pay is 4.3 million!
I asked why, and I was told it is because of fluctuating interest rates.
This is fishy!
If you have a bank loan, please go check its status.
SAVE your money in a SACCO.
Your aim of joining a Sacco should be to SAVE not to get a loan.
Use the dividends you earn to do what you would have done with the loan.
- or save enough to get a loan without guarantors.
Be patient. Diversify your portfolio.
#MenMonday
The only businesses making profits are banks (and auctioneers).
In a bad economy, banks give huge loans to broke governments in return for huge interests as profits.
If you (a common citizen) go to the bank today to apply for a loan, they will not listen to your plea.
They can create unnecessary barriers to deny you the loan, yet the money in the bank is our money.
" You did not file your 2018/2019 KRA tax returns. Therefore, you don't qualify for a 50,000 loan. However, continue banking with us as we revise this policy in 3 months' time."
The bank will frustrate you the taxpayer while loaning billions to a thieving government misusing the same taxes.
"You have been listed in the CRB for failing to pay the M-shwari loan of 1000. Therefore, you don't qualify for a 100,000 loan for your business. However, continue banking with us. Your business has good cash flow. We shall revise our policies early next year."
The bank will frustrate you while happily loaning a government that can't account for Kes 5.3 Trillion borrowed since 2014.
How are banks making huge profits in an economy where its customers are living hand to mouth?
For example,
• NCBA made 10 BILLION profits after tax.
• COOP made 18 BILLION (Kwanza, they called it HISTORIC)
• KCB made 29 BILLION (They called it REMARKABLE)
• EQUITY made a whooping 30 BILLION!
— even the tiny Family Bank made a massive 17% profit: 1.6 BILLION.
Why are they making immoral profits in a struggling economy?
It is because they are using our money to do business with a money-hungry, broke government.
That is why they are not interested in your loan application.
Interestingly, as the banks make these huge, immoral profits, they underpay their staff, have no toilets for customers, and some can't even repaint their walls or put new tiles on their floors.
The profits they earn are pocketed by their crooked directors, and meagre dividends are thrown at shareholders to silence them.
It is high time banks are called out.
Banks should unite with citizens and agitate for friendly financial policies or sleep with corrupt politicians and lose our trust.
#BetterTogether
ID CARDS do not expire.
ID CARDS do not expire.
ID CARDS do not expire.
ID CARDS do not expire.
ID CARDS do not expire.
ID CARDS do not expire.
ID CARDS do not expire.
ID CARDS do not expire.
Kenyan by birth. Forever a Kenyan. A Kenyan does not expire.
RT widely.
Holy Family Basilica have accepted to give a Gen Z an opportunity to tell the church #RejectFinanceBill2024.
The revolution is being televised. We must be heard. #OccupyChurches
UDA Nominated Senator Karen Nyamu Amechoma. Yaani Karen Njeri Nyamu doesn't know what is in the Finance Bill? I can't believe Karen Nyamu is an Advocate of the High Court of Kenya!
BREAKING NEWS: Education CS Ezekiel Machogu finally retraces his steps and retrieves common sense from where he had lost it before he began working for the UDA Gov't. Pressure pays - if in doubt, ask the pump attendant.