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Mobile Loans Ponzi
Much Know
#181 Posted : Tuesday, June 18, 2019 11:49:26 AM
Rank: Elder


Joined: 12/6/2008
Posts: 3,469
Demixl
#182 Posted : Friday, July 05, 2019 4:27:19 PM
Rank: New-farer


Joined: 6/28/2019
Posts: 10
Ponzi schemes are basically pyramid selling schemes which promise to make investors rich quickly – but they often fold quickly and without warning, leaving investors out of pocket.People are chasing fast and easy money . I'd rather go to a fast credit card company . I needed the money urgently and I get the loan from this finance company www.paydayloanamerica.com .
Impunity
#183 Posted : Friday, July 05, 2019 5:57:05 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,151
Location: Masada
Demixl wrote:
Ponzi schemes are basically pyramid selling schemes which promise to make investors rich quickly – but they often fold quickly and without warning, leaving investors out of pocket.People are chasing fast and easy money . I'd rather go to a fast credit card company . I needed the money urgently and I get the loan from this finance company www.paydayloanamerica.com .


Hello.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

Beler
#184 Posted : Tuesday, July 16, 2019 4:59:15 PM
Rank: New-farer


Joined: 1/15/2019
Posts: 31
Ponzi schemes companies are never good choice. It will work in the beginning as new members of fraud are coming in. However, in one moment in the future whole construction falls down within a few days. It is always better to stay away from these in order to protect your money
kayhara
#185 Posted : Saturday, August 24, 2019 5:41:17 PM
Rank: Veteran


Joined: 5/5/2011
Posts: 1,026
Google's new policy on mobile loan apps, apps providing short term loans of 60 days or less to be blocked
I wonder how this will affect the kenyan apps will they extend the loan term and lower their interest rates? let's see
https://wccftech.com/goo...-for-personal-loan-apps/
To Each His Own
obiero
#186 Posted : Saturday, August 24, 2019 6:07:32 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,289
Location: nairobi
kayhara wrote:
Google's new policy on mobile loan apps, apps providing short term loans of 60 days or less to be blocked
I wonder how this will affect the kenyan apps will they extend the loan term and lower their interest rates? let's see
https://wccftech.com/goo...for-personal-loan-apps/

Nil effect considering USSD
COOP 5,500; KCB 7,500; KNRE 100,000; KQ 221,100
Angelica _ann
#187 Posted : Monday, August 26, 2019 10:17:49 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,867
Fuliza Kshs. 81b in 6 months.


https://www.standardmedi...1b-on-fuliza-in-6-months
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
obiero
#188 Posted : Monday, August 26, 2019 10:20:01 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,289
Location: nairobi
[quote=Angelica _ann]Fuliza Kshs. 81b in 6 months.


https://www.standardmedi...b-on-fuliza-in-6-months[/quote]
Quite a small sum.. Considering 4T cash movements in the same cycle. Only way is up.. A timely innovation
COOP 5,500; KCB 7,500; KNRE 100,000; KQ 221,100
MugundaMan
#189 Posted : Saturday, September 14, 2019 8:30:13 AM
Rank: Elder


Joined: 1/8/2018
Posts: 2,000
Location: DC (Dustbowl County)


Lazy journalists and corrupt KBA.
"Facilitation fee" is interest charged
Safcon alone easily exceeds 48% interest annualised on that point alone. Now ongeza late fees, etc for those who miss payments and you may find annualised interest to be over 500% for most of these lenders.

There is a conspiracy to get Kenyans into massive personal debt but people are not seeing it.

Fuliza
Okoa this okoa that
Mobile loans at usurious rates
add betting firms (free easy money mentality) and you have a ticking time bomb

No wonder many on the economy thread are crying "economy ni mbaya" in a 5% GDP growth rate environment.

When you are up to the eyeballs in usurious 500% loans, how on earth do you hope to survive even in an economy growing at 10%

This is why I am against the push to make mortgages affordable. Our high interest rates for mortgages have been a GODSEND to Kenya because they have kept an overwhelming percentage of Kenyan property owners debt free. Such economies with high debt free homeownership rates are dangerous for the "powers that be" ("mashetani" both within and outside the country). Ask Greece and Singapore. Borrower is slave to the lender. A financially independent population is hard to control through any traditional levers at CBK. If you shut down their economy they have comfortable debt free farms and properties to go to until they die and you cannot tell them much.

Bottom line RUUUN from these personal loans dear Kenyans. They are even WORSE than the Casino (NSE).
**Destination 2k posts and it's curtains!****Dustbowl County is the Future of Kenya. Join us investing here or perish!!****On Vacation until Jan 1st 2020**Current NSE holdings:ZERO. Next planned re-entry into the NSE: 2052
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