Keep your problems smaller than your life. A flat tire is a flat tire. A bad meeting is a bad meeting. A canceled flight is just an extra two hours. These things become catastrophes when you let them. But they stay manageable when you remember the depth of your real life- the people you love, the work you care about, the beautiful years still ahead. Zoom out. Fit your reaction to the size of the problem.
— Unknown
An unspoken rule ya kuwa mschana ni if you’re looking for something in your bag, and you find your lipgloss, you have to stop and apply the gloss first before you continue with the search.
Kenyan courts have ruled that digital lenders without a CBK licence cannot use the courts to recover unpaid loans.
The ruling means unlicensed lenders may be unable to enforce loan repayments through the courts.
A Kenyan court has rejected Zenka Digital's 438% annual interest rate on a digital loan, calling it unfair and excessive.
This comes after the lender sought to recover Sh152,000 from a borrower who had taken a Sh76,000 loan, with the court ruling that Zenka could recover only the loan amount plus limited interest.
Banks are cutting PesaLink transfer fees to challenge M-Pesa.
Nineteen banks now offer free PesaLink transfers up to Sh1,000 and a flat Sh20 fee for transfers between Sh1,001 and Sh999,999.
The full list of the 19 banks is in the thread below.
the best life advice i've heard was surprisingly simple: give yourself one thing to look forward to every week. it doesn't have to be expensive. a picnic, a beach walk, fresh flowers, a movie night, a long drive... it's easier to keep going when your brain knows there's something good waiting for you.
The Court has declared MOGO's loan of KSh 400,000, which ballooned to KSh 976,750, illegal.
The borrower had taken a loan of KSh 400,000 and had already repaid KSh 299,369. However, MOGO claimed he still owed KSh 677,381 and demanded a total repayment of KSh 976,750 to redeem the loan.
The Small Claims Court found that MOGO's effective interest rate of about 86.4%, together with additional charges, was exploitative and oppressive. The Court also held that MOGO failed to prove the penalties, monitoring fees, insurance fees and other amounts it claimed because it could not justify how those figures were calculated.
Applying the in duplum rule, the Court ruled that interest cannot exceed the principal amount advanced. It rejected MOGO's inflated claim and entered judgment for only KSh 100,631, the outstanding balance after deducting the borrower's repayment plus court-rate interest and costs.