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Choice Microfinance Bank in Kenya
Rank: New-farer Joined: 5/22/2014 Posts: 56
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Choice Microfinance is a new Bank with one Branch already open. Check them out at Choicemfb.com.
They are looking for Investors.
Let me know what you think..
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Investors or clients? Some MFI calling itself OJEEP closed unceremoniously this week without notice to its clients
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Rank: New-farer Joined: 5/22/2014 Posts: 56
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OJEEP collapsed? Damn!!!!!
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Rank: Elder Joined: 10/3/2008 Posts: 4,057 Location: Gwitu
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The Microfinance bubble has burst. Most MFIs are scaling down operations. Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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kaka2za wrote:The Microfinance bubble has burst. Most MFIs are scaling down operations. Finance and Microfinance instituitions are just tooo many . Cbk should curb this by doing what they did in raising capital for banks.....These MFI's should merge for effiency or collapse! Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Who regulates MF and non-deposit taking Saccos (if such a beast exists?) Sehemu ndio nyumba
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Tried calling them the other day about joining the company as an investor the phones were not being picked andmy emails kept bouncing back .. they say they target diaspora but I don't see their seriousness . Unless they only want a specific class of Iinvestors . I would be careful with them though ... so many microfinances are fleeing with people's money some tied to strong politicians .
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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enyands wrote:Tried calling them the other day about joining the company as an investor the phones were not being picked andmy emails kept bouncing back .. they say they target diaspora but I don't see their seriousness . Unless they only want a specific class of Iinvestors . I would be careful with them though ... so many microfinances are fleeing with people's money some tied to strong politicians . Underline..DIASPORA...Run run very fast. They know locals demand to see the offices and operations physically...from time to time impromptu visits. Kenyans have discovered diaspora remmittances Are on the rise thus a good idea to fleece them....They will come back in kenya to find nothing. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Boris Boyka wrote:enyands wrote:Tried calling them the other day about joining the company as an investor the phones were not being picked andmy emails kept bouncing back .. they say they target diaspora but I don't see their seriousness . Unless they only want a specific class of Iinvestors . I would be careful with them though ... so many microfinances are fleeing with people's money some tied to strong politicians . Underline..DIASPORA...Run run very fast. They know locals demand to see the offices and operations physically...from time to time impromptu visits. Kenyans have discovered diaspora remmittances Are on the rise thus a good idea to fleece them....They will come back in kenya to find nothing. true but sad .
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Boris Boyka wrote:enyands wrote:Tried calling them the other day about joining the company as an investor the phones were not being picked andmy emails kept bouncing back .. they say they target diaspora but I don't see their seriousness . Unless they only want a specific class of Iinvestors . I would be careful with them though ... so many microfinances are fleeing with people's money some tied to strong politicians . Underline..DIASPORA...Run run very fast. They know locals demand to see the offices and operations physically...from time to time impromptu visits. Kenyans have discovered diaspora remmittances Are on the rise thus a good idea to fleece them....They will come back in kenya to find nothing. yeah, ask FEP investors
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Boris Boyka wrote:kaka2za wrote:The Microfinance bubble has burst. Most MFIs are scaling down operations. Finance and Microfinance instituitions are just tooo many . Cbk should curb this by doing what they did in raising capital for banks.....These MFI's should merge for effiency or collapse! Regulation isn't the problem here.People don't do due diligence, are too greedy or both.Before complains go through the bureaucracy of anti banking fraud, CBK and the court, guys will have already given out billions and the recipient folded up the operation. VIP Portal is a good example.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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whiteowl wrote:Boris Boyka wrote:kaka2za wrote:The Microfinance bubble has burst. Most MFIs are scaling down operations. Finance and Microfinance instituitions are just tooo many . Cbk should curb this by doing what they did in raising capital for banks.....These MFI's should merge for effiency or collapse! Regulation isn't the problem here.People don't do due diligence, are too greedy or both.Before complains go through the bureaucracy of anti banking fraud, CBK and the court, guys will have already given out billions and the recipient folded up the operation. VIP Portal is a good example.  which people?? Regulations work...unless you aren't kenyan...cbk has regulated banks that they no longer mushroom and collapse anyhowly!  See what SASRA has done too, better. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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whiteowl wrote:Boris Boyka wrote:kaka2za wrote:The Microfinance bubble has burst. Most MFIs are scaling down operations. Finance and Microfinance instituitions are just tooo many . Cbk should curb this by doing what they did in raising capital for banks.....These MFI's should merge for effiency or collapse! Regulation isn't the problem here.People don't do due diligence, are too greedy or both.Before complains go through the bureaucracy of anti banking fraud, CBK and the court, guys will have already given out billions and the recipient folded up the operation. VIP Portal is a good example. @whiteowl I don't get it when you say due diligence . A company in Kenya is legally registered , approved by cma and Cbk. You go to registrar and check , Cbk check, they have offices check . It's so hard to pin point fake companies if the people we need to look upon confined with our trust have been compromised especially in Kenya . I think I read somewhere from one of wazuans that Warren Buffet invests in companies that he has tracked them for 5yrs....then if you call this due diligence in Kenya then I agree . But due diligence aspect I don't, and I know iit's not a feasible idea here in Kenya. Too much betrayal of trust . Please give us tips on how to do due diligence research .maybe people don't know how to do due diligence
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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enyands wrote:whiteowl wrote:Boris Boyka wrote:kaka2za wrote:The Microfinance bubble has burst. Most MFIs are scaling down operations. Finance and Microfinance instituitions are just tooo many . Cbk should curb this by doing what they did in raising capital for banks.....These MFI's should merge for effiency or collapse! Regulation isn't the problem here.People don't do due diligence, are too greedy or both.Before complains go through the bureaucracy of anti banking fraud, CBK and the court, guys will have already given out billions and the recipient folded up the operation. VIP Portal is a good example. @whiteowl I don't get it when you say due diligence . A company in Kenya is legally registered , approved by cma and Cbk. You go to registrar and check , Cbk check, they have offices check . It's so hard to pin point fake companies if the people we need to look upon confined with our trust have been compromised especially in Kenya . I think I read somewhere from one of wazuans that Warren Buffet invests in companies that he has tracked them for 5yrs....then if you call this due diligence in Kenya then I agree . But due diligence aspect I don't, and I know iit's not a feasible idea here in Kenya. Too much betrayal of trust . Please give us tips on how to do due diligence research .maybe people don't know how to do due diligence Like in the VIP Portal case,it wasn't registered to conduct any forex related business in Kenya. Did any of those guys who gave part of the billion they ran away with bother to check this before they gave out their cash?
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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In the case of OJEEP they went for the lowly unbanked. I cant blame the victims because the greed aspect cant be attributed-save and borrow @ 12% Too bad that you can invest in offices to con shoeshiners 10k
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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CARITAS Microfinance Bank, owned by the Catholic Church, has entered the over Sh60 billion micro-lending market, becoming the 12th lender in this niche. Caritas is the third micro-lender to be granted a licence this year, after Daraja (licensed January 12) and Choice (May 13), and the eighth one to be allowed to roll out services countrywide. “To have a national outreach, the MFB intends to adopt a social and competitive pricing approach and a two-pronged distribution strategy – branches and marketing offices,” the CBK said in a statement. “The MFB also intends to employ the holistic approach that will aim to improve its members’ economic and social status.” - See more at: http://www.the-star.co.k...ank#sthash.DNVPw2vJ.dpuf"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 12/15/2009 Posts: 142 Location: Nairobi
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Any Wazuans who have dealt with FSA Pioneer especially when selling their plots on loan under name Prudential? UKITAFUTA UKABILA UTAKUFA BILA!
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Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania
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shalishali wrote:Any Wazuans who have dealt with FSA Pioneer especially when selling their plots on loan under name Prudential? How was your experience with them ?
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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