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Mobile phone borrowing has been in the rise in the country especially this time the world is battling the Covid-19 pandemic. Many families have been trying to make ends meet with no success. Due to the enticing adverts these lenders post many people end becoming their victims.
Innocent Kenyans desperately end up taking these offers with no plans on how they will repay the money. Without noticing the exorbitant interests attached to the loans they click the submit button. The short notice these leaders give elapses and the borrower has no other way than getting another lender to help them clear the previous debt.
This accumulation of debt has led to many contemplating suicide and some have actually executed it. How many desperate Kenyans are going to die on the hands of these scampulous companies? Where is our Government? My humble appeal is to the National parliament and the Central Bank to come to the aid of suffering Kenyans and save them from these money hungry companies. Let them be tamed.
Central Bank Governor Patrick Njoroge.
I urge my fellow Kenyans to avoid falling into the trap of these companies that are here to strip them their hard earned money. Think before you click that submit button. Be informed that some of these lenders will leave you poor, embarrassed and desperate. You will wish you are dead. Not all of these lenders are bad, there some who do their work well and have helped Kenyans who have no access of credit from the banks and Saccos. They save Kenyans time as their loan is instant. Some of these also promise that they would give loan but fail to do so even after the borrower has given out their details. Where they take this data?
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