Top Tweets for #ExploitativeShylocks
These #ExploitativeShylocks can Track customers mortobikes when they DEFAULT on payment but once you complete on payment, the mortobike DISAPPEARS mysteriously and THEY CAN'T TRACK IT.
This is an inside job.
I have heard these sad stories.
I have written to DCI and to the CBK.
This is a very sad story.
These #ExploitativeShylocks are out here to fleece poor Kenyans.
Dear WATU CREDIT , this is looks an inside job.
This has been so common amongst these shylocks.
I urge @DCI_Kenya and @CBKKenya to crack down these shylocks.
Bro, I'm so sad right now. Around April last year, niliamua kuchukua hii bike ya loan from WATU Africa. I paid a deposit of 15K and I have been struggling each day for the last 390 days to pay it off.
I'm happy to announce that CBK said they are exploring ways to broaden the REGULATION of these #ExploitativeShylocks.
@kadolly_dolly @Josh72297791 @Coopbankenya @FamilyBankKenya Every one has an experience with these Banks.
Just like these #ExploitativeShylocks.
In recent years, Kenyans have come out to emotionally complain about the inhumane treatment they are subjected by these MICROFINANCE INSTITUTIONS.
They were even EMBOLDENED by my #ExploitativeShylocks thread on October.
#MicrofinanceInstitutions
1/
@Belive_Kinuthia Do not leave out MOGO.
Mwananchi Credit.
Platinum Credit.
Momentum Credit.
Eden Bridge CAPITAL LTD.
Letshogo CAPITAL.
Northwave CAPITAL
Coz all are #ExploitativeShylocks
Tomorrow, let us assemble here to discuss how these #ExploitativeShylocks operate
Educate our people on what they need to understand before applying these loans
The documents they are supposed to read & internalize & of course take them home
And the regulations applicable
I will provide insights and answers to the above concerns.
#ExploitativeShylocks
@nyamache_tom Others , despite paying 80% of the loan, if you default for one or two months they repossess your asset and dispose it off without your knowledge.
#ExploitativeShylocks
@Sheehraw I will outline all the legal provisions and how they are able to operate outside the ambit of CBK REGULATIONS
#exploitativeshylocks
@NArwassi Apparently, rules of engagement change midway once you sign for the loan for some institutions. What they charge you is not what you signed for.
Others do not disclose all information to clients.
#exploitativeshylocks
13. What areas can we cover to educate Kenyans about these MICROFINANCE INSTITUTIONS which I at times call shylocks.
#ExploitativeShylocks.
On #ExploitativeShylocks.
I have been researching to get the answers to these questions:
1. What laws exists regulating these institutions.
2. What Kenyans actually do when they apply for these loans.
3. What these institutions do and don't do when giving loans.
1/
Financial literacy program on how the microfinance institutions work, the regulations, the contractual agreements and what Kenyans must know before applying loans from them COMING UP this week.
#ExploitativeShylocks .
@Belive_Kinuthia Like one youtuber remarked, in USA you are rich if you have a loan. It simply means your credit rating is very good, people that go to those #ExploitativeShylocks majority are in red. No commercial banks will lend to them
Select Credit Ltd based at Transnational Plaza.
Any other affected clients about SELECT CREDIT LTD?
#ExploitativeShylocks .
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