Pigia pailot wa ngotha ya 30bob akuokolee
Hapo sijashikanisha. But I know for a fact that shitty cash flow is one of the major causes of default
Uninstall the app
Consider two potential borrowers; one with a squeaky clean credit rating but with shitty cash flow and another with a poor credit score but raking in ten or hundreds of thousands per week. Nani unaona anaweza pewa ama kunyimwa loan?
The question here should be, why is one’s credit score poor , despite having tens or hundreds of thousands per week ? , while on the other hand, a person with a sh!tty cash flow has a perfect credit score ?
It all narrows down to discipline, and that system is there for a reason.
It is what it is. Credit score is a function of how one takes and repays loans. A person with a shitty cash flow position definitely will score poorly since hachukuangi loan same way a person with a good cash flow but poor management will also score poorly since amechukua loans na halipi. This presents a dilemma to financiers. To begin with, there are very few employed folks relative to the adult population. This is fundamental as employed folks present a considerably low risk to financiers. These numbers however cannot sustain the finance sector as it is hence the need to rope in SMEs and hustlers. This presents another dilemma in that Kenyan smes and entrepreneurs are faced with uncertain cashflows, not necessarily of their own making, hence the high risk of default. Consider SMEs supplying counties and govt agencies for example.
What we end up with is a situation where a high and unsustainable number of people are negatively listed thus rubbishing the whole CRB mechanism. How are financiers to proceed in a situation where over half of their customers are listed? Easy. Move goalposts and look for other matrices to appraise a loan application the leading being cash flows. Most financiers in tier 2 banks and microfinance firms will reason that kama ulichukua loan Mshwari, it is not their problem that Mshwari wameshindwa kudai loan yao. Comprehende?
I got your point from the CRB angle… and I’m not sure how the CRB loans work, but i’d guess, if one is servicing the loan, then, s/he should be categorized differently from that person who isn’t paying a single cent towards his loan.
Worry yangu ni wakipigia
Update:Hizi majangili zimepigia hadi mamangu banae.Good thing is my mama understands the vibe.Itabidi nimewalipa when I feel I have the money.#KaendeKaende
If it’s a Chinese backed app ( most likely) contacts zisha somwa … SMS reminders utapata…and calls will start next
But wataanza kucall the 2nd contact you put during registration… Ukikosa kupick…waingie Kwa contacts umesave as mum,dad, wife etc
You can uninstall the app
:D:D:D:D:D:D
PR tupu. Juzi nimepata text Kwa WhatsApp that I’m associated with a bad defaulter, who happens to be colleague we don’t even talk. ata sio the normal messaging anymore:D
Piga report ndio urudi kuhara hapa.