Details have emerged on the good things that happened to Uhuru Kenyatta's family despite the fact that he retired and was succeeded by President William Samoei Ruto as the country's first in command. According to a publication by Tuko news on 2, January 2023, despite him handing over the elements of power, his family which controls about 13.2% of NCBA's wealth, was spoon fed and ended up reaping big in the just concluded year of 2022.
Retired president Uhuru Kenyatta and former first ladies Mama Ngina Kenyatta and Margaret Kenyatta in a past function. Kenyatta family has gained KSH 3.1 billion in one year from their ownership of NCBA group after the lender defied the stock market crash to emerge the best stock at the Nairobi stock exchange.
Mshwari is a mobile loan facility offered jointly by Safaricom and NCBA bank. Kenyans who may need money for emergency purposes as well as investment needs, since there are those who get over Ksh 50,000. The money hits the Mpesa account of the borrower within less than two minutes.
Mobile loans have been saving Kenyans in various occasions as they don't need to go to banks and ask for loans. They also offer low interest rates for the loans customers have acquired from them . Such online money lenders include Safaricom which has M-Pesa Fuliza and M-Shwari.
Kenyans are starting to celebrate early as a result of President William Ruto's administration's quick action in canceling the Sh11 billion Fuliza and Mshwari loans. The government will have the audacity to write off Sh11 billions through NCBA bank. "Of the Sh15 billion, we are responsible for Sh11 billion through the combined efforts of M-Shwari and Fuliza.
Political Analyst Herman Manyora has reacted days after President William Ruto met with CEOs from Safaricom, NCBA and KCB. Manyora said there is nothing to celebrate after Safaricom announced that its Fuliza customers will not pay a daily maintenance fee for the first three days when they borrow money for transactions below Sh1,000.
Every day thousands of kenyans approaches banks and other financial institution to seek for loans to help them meet their immediate needs. Some go for loans for development, others to meet medical expenses while others go for loans for emergency services. However, some of them fails to pay loans leading to negative listing on Credit Reference Bureau (CRB).
One of the Raila Amollo Odinga's senior lawyers who defended the former Azimio Presidential Candidate win in the Supreme Court challenging President William Samoei Arap Ruto's win has been listed in the credit reference bureau after Allegedly failing to pay a loan worth Shs. 1,300. Philip Murgor who defended Raila's win in the Supreme Court, has threatened to sue the Uhuru's Kenyatta family-associated NCBA Bank for erroneously listing him as a loan defaulter over a disputed Sh1,300 Fuliza loan.
Safaricom CEO Peter Ndegwa has today revealed that the telecommunications company is set to delist four million subscribers registered by the Credit Bureau (CRB) next month. Speaking on Citizen TV's News Night show on Tuesday, Ndegwa said Safaricom is currently tying up with KCB Bank and NCBA to facilitate the move, which aims to increase revenue collection by expanding its customer base.
Kenyatta family has gains Sh 3 billion in a year. Their ownership of the NCBA group has led them to be the top lender in the Nairobi Securities Exchange ( NSE). According to the report the Kenyattas have made billion profits from their operations in the Nairobi Securities exchange.
According to NCBA Group, it will waive at least Ksh. 5.5 billion in delinquent Fuliza and M-Shwari loans as part of the credit repair program run by the Central Bank of Kenya. For the credit repair initiative, which will result in at least half of the balances, or Ksh.
Well-known overdraft administration Fuliza has sliced its everyday support charges by up to 40 percent in a bid to drive the expanded use of the item. Safaricom, NCBA, and KCB are set to reveal the charges decrease later on Wednesday as the three elements who mutually run Fuliza bet on the expenses slice to affect on monetary incorporation for Kenyans.
The NCBA Bank has announced of its plans to forgo Mshwari and Fuliza loans which are in default. They have also expressed of their commitment to remove Kenyans who are blacklisted because Kenya needs to move on to spur economic growth. Here is a link: https://twitter.com/citizentvkenya/status/1595820203610460161?s=20&t=7UAeCiqTH6QR7iXa0u3UQQ
Kenyans have benefited from mobile loans on a number of instances by avoiding the need to visit banks to obtain loans. M-Shwari has also undergone modifications in the days before His Excellency President William Ruto requested Fuliza to cut their interest rates for Kenyans. According to a recent declaration by Safaricom and NCBA, Kenyans would be required to pay interest based on how much money they make.
President William Ruto has made tremendous changes in his Government since he took the mantle as the 5th President of Kenya on 13th September, 2022. From removing the Fuel products subsidy, subsidizing the fertilizers, swearing in the 6 judges refused to be approved by retired President Uhuru Kenyatta, reverting port operation to Mombasa, naming his new cabinet and yesterday through a joint consultation with KCB, NCBA and Safaricom, fuliza is now operating on 50% discount, and loan takers will enjoy the first three days free from interests.
Philip Murgor, one of the country's senior most legal counselors, has taken steps to sue the Kenyatta family related NCBA Bank for incorrectly posting him as a credit defaulter over a contested Sh1,300 Fuliza loan. Fuliza is an overdraft presented by NCBA, KCB Bank and Safaricom, which permits endorsers of complete monetary exchanges from their cell phone wallets, even with an inadequate equilibrium.
Speaking on wednesday, President William Ruto directed goverment to see his proposals are affected. He said the treasury cabinet and ICT cabinet will work with them in the financial fin-tech and to focus on credit for small,micro and medium enterprises. He emphasized on it as the largest opportunity that employ almost 80% of the Kenyan populaton and yet they are being constrained by access to credit.
Due to rough economic times, kenyans have opted for taking loans of all kind to survive. In his wisdom the president of the republic of kenya has said that the four million kenyans should be removed from CRB listing. "Instead of blacklisting we can have a graduated listing of borrowers based on how they have borrowed and how they have paid back," he said.
Thousands of Kenyans visit banks and other financial institutions every day to apply for loans to cover their immediate expenses. Loans are used by some for growth, others for medical bills, and yet others for emergency services.However, some of them default on loans, which results in a bad credit report (CRB).
Boss Williams Ruto has lamented about the betting companies, they operate in an opeque way by not paying taxes to the kenya revenue authority, speaking during a meeting with Safaricom, KCB, and NCBA CEOs, doctor Williams Ruto asked the central bank of kenya governor ngoroge to moderate the companies so that they can also pay taxes just like other well functioning companies in Kenya.