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Mobile Loans Ponzi
Rank: Elder Joined: 12/7/2012 Posts: 11,908
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So Fuliza has an Access fee of 1% on the amount of the transaction and a daily fee.  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 2/20/2007 Posts: 767
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jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:We need this mobile lending to be regulated. China realised this fact in 2017. Are we bigger than China? Are we special in a way to make us not feel the effects of such reckless lending? I agree. But this is not reckless lending. It is smart lending from a purely business perspective. Not condoning it, but who would refuse to lend at 90% per annum, with a portfolio of, say KES10Mill comprising multiple smaller loans of around KES 1k. Even with a 50% default rate, you are still in the money. So the lending is not reckless, but obviously far from ethical. Its not an ethical issue for me. Its reckless especially if banks are the ones doing the lending. We have seen that in China, online lenders have folded due to massive defaults. I dont mind a fintech putting its money on the line via mobile lending. I am opposed to banks putting depositors money on the line. That is my money and your money. Who is checking to see that they dont put too much money in this asset segment. If a bank has say 50% of loans on mobile, what will happen to that bank in case of massive default. What will be the domino effect on the financial system. We now have banks in trouble like hfck going online and mobile. Next they will be giving mobile loans. Hungry execs looking for outsize bonus will dish out more money on mobile coz its easy money. When the defaults come, not if but when, it will be ugly. The CBK is the regulator for Banks in Kenya. Banks' lending portfolios form part of regular reporting requirements. I believe that Banks are only lending to their OWN existing clients as they need to meet KYC requirements. If hungry execs wanted to dish out loans for "easy" money, they would simply lend larger amounts without checking credit status or investing in digitisation. The real isssue here is not that Banks are finding new ways to advance loans while distributing risk, it is whether or not the lending is being used to advance loans that are designed to attract penalties, effectively circumventing the interest rates cap. I.e. the one day loan is at 13% per annum but penalties if you don't pay by midnight are another 13%. This is not an actual default as you pay the next day. However, the penalty may yield another 13% annualized charge. Interesting angle here. I have always thou They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Member Joined: 2/20/2007 Posts: 767
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jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:We need this mobile lending to be regulated. China realised this fact in 2017. Are we bigger than China? Are we special in a way to make us not feel the effects of such reckless lending? I agree. But this is not reckless lending. It is smart lending from a purely business perspective. Not condoning it, but who would refuse to lend at 90% per annum, with a portfolio of, say KES10Mill comprising multiple smaller loans of around KES 1k. Even with a 50% default rate, you are still in the money. So the lending is not reckless, but obviously far from ethical. Its not an ethical issue for me. Its reckless especially if banks are the ones doing the lending. We have seen that in China, online lenders have folded due to massive defaults. I dont mind a fintech putting its money on the line via mobile lending. I am opposed to banks putting depositors money on the line. That is my money and your money. Who is checking to see that they dont put too much money in this asset segment. If a bank has say 50% of loans on mobile, what will happen to that bank in case of massive default. What will be the domino effect on the financial system. We now have banks in trouble like hfck going online and mobile. Next they will be giving mobile loans. Hungry execs looking for outsize bonus will dish out more money on mobile coz its easy money. When the defaults come, not if but when, it will be ugly. The CBK is the regulator for Banks in Kenya. Banks' lending portfolios form part of regular reporting requirements. I believe that Banks are only lending to their OWN existing clients as they need to meet KYC requirements. If hungry execs wanted to dish out loans for "easy" money, they would simply lend larger amounts without checking credit status or investing in digitisation. The real isssue here is not that Banks are finding new ways to advance loans while distributing risk, it is whether or not the lending is being used to advance loans that are designed to attract penalties, effectively circumventing the interest rates cap. I.e. the one day loan is at 13% per annum but penalties if you don't pay by midnight are another 13%. This is not an actual default as you pay the next day. However, the penalty may yield another 13% annualized charge. Interesting angle. I always knew that mobile loan interest is waaay above the 13% interest limit. I also do not think that CBK officially tracks mobile loans as an asset class. In 2017 banking survey report, mobile lending is not even mentioned by way of discussing its impact, magnitude, level of defaults etc. Its like CBK has shut its eyes to mobile lending and only gives stats on formal lending. Thus they quote average bank interest rates as 13% while I am sure if mobile lending is included it would be a different picture. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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This mobile loan space is occupied by banks using personal loans and MFI products are restrictive and they don't have the capital to serve the masses. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 8/17/2010 Posts: 110 Location: Nairobi
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People asking for regulation over private money!! It will be illegal for CBK to regulate non-bank and non deposit taking institutions loans. Next people will ask CBK to regulate butchery debts.
Mobile loans are simply Shylock's who have taken computer and mobile lessons.
It is already very difficult for CBK to regulate and reign in banks; adding another regulatory layer is nonsensical and not enforceable.
Because CBK would rather focus on monetary and economic stability, investor confidence etc than herding bus-fare seeking masses.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Meanwhile, ....... Kenya's Safaricom's overdraft service exceeds expectations -CEO https://af.reuters.com/a...africaTech/idAFL8N1ZH32NIn the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Angelica _ann wrote:So Fuliza has an Access fee of 1% on the amount of the transaction and a daily fee. Nothing for freee Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 1/1/2011 Posts: 396
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tom_boy wrote:jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:We need this mobile lending to be regulated. China realised this fact in 2017. Are we bigger than China? Are we special in a way to make us not feel the effects of such reckless lending? I agree. But this is not reckless lending. It is smart lending from a purely business perspective. Not condoning it, but who would refuse to lend at 90% per annum, with a portfolio of, say KES10Mill comprising multiple smaller loans of around KES 1k. Even with a 50% default rate, you are still in the money. So the lending is not reckless, but obviously far from ethical. Its not an ethical issue for me. Its reckless especially if banks are the ones doing the lending. We have seen that in China, online lenders have folded due to massive defaults. I dont mind a fintech putting its money on the line via mobile lending. I am opposed to banks putting depositors money on the line. That is my money and your money. Who is checking to see that they dont put too much money in this asset segment. If a bank has say 50% of loans on mobile, what will happen to that bank in case of massive default. What will be the domino effect on the financial system. We now have banks in trouble like hfck going online and mobile. Next they will be giving mobile loans. Hungry execs looking for outsize bonus will dish out more money on mobile coz its easy money. When the defaults come, not if but when, it will be ugly. The CBK is the regulator for Banks in Kenya. Banks' lending portfolios form part of regular reporting requirements. I believe that Banks are only lending to their OWN existing clients as they need to meet KYC requirements. If hungry execs wanted to dish out loans for "easy" money, they would simply lend larger amounts without checking credit status or investing in digitisation. The real isssue here is not that Banks are finding new ways to advance loans while distributing risk, it is whether or not the lending is being used to advance loans that are designed to attract penalties, effectively circumventing the interest rates cap. I.e. the one day loan is at 13% per annum but penalties if you don't pay by midnight are another 13%. This is not an actual default as you pay the next day. However, the penalty may yield another 13% annualized charge. Interesting angle. I always knew that mobile loan interest is waaay above the 13% interest limit. I also do not think that CBK officially tracks mobile loans as an asset class. In 2017 banking survey report, mobile lending is not even mentioned by way of discussing its impact, magnitude, level of defaults etc. Its like CBK has shut its eyes to mobile lending and only gives stats on formal lending. Thus they quote average bank interest rates as 13% while I am sure if mobile lending is included it would be a different picture. I should have been clearer. Advances from banks directly to borrowers are capped at 13%. There is no clear restriction on penalties for late payment. Advances where a Bank gives money to Safaricom in bulk are also capped. However, whatever rate Safaricom then charges to the final borrower woukd not be capped at 13% p.a. the first advance to Scom would appear in CBK reporting as a bulk formal loan.
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Rank: Member Joined: 2/20/2007 Posts: 767
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jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:We need this mobile lending to be regulated. China realised this fact in 2017. Are we bigger than China? Are we special in a way to make us not feel the effects of such reckless lending? I agree. But this is not reckless lending. It is smart lending from a purely business perspective. Not condoning it, but who would refuse to lend at 90% per annum, with a portfolio of, say KES10Mill comprising multiple smaller loans of around KES 1k. Even with a 50% default rate, you are still in the money. So the lending is not reckless, but obviously far from ethical. Its not an ethical issue for me. Its reckless especially if banks are the ones doing the lending. We have seen that in China, online lenders have folded due to massive defaults. I dont mind a fintech putting its money on the line via mobile lending. I am opposed to banks putting depositors money on the line. That is my money and your money. Who is checking to see that they dont put too much money in this asset segment. If a bank has say 50% of loans on mobile, what will happen to that bank in case of massive default. What will be the domino effect on the financial system. We now have banks in trouble like hfck going online and mobile. Next they will be giving mobile loans. Hungry execs looking for outsize bonus will dish out more money on mobile coz its easy money. When the defaults come, not if but when, it will be ugly. The CBK is the regulator for Banks in Kenya. Banks' lending portfolios form part of regular reporting requirements. I believe that Banks are only lending to their OWN existing clients as they need to meet KYC requirements. If hungry execs wanted to dish out loans for "easy" money, they would simply lend larger amounts without checking credit status or investing in digitisation. The real isssue here is not that Banks are finding new ways to advance loans while distributing risk, it is whether or not the lending is being used to advance loans that are designed to attract penalties, effectively circumventing the interest rates cap. I.e. the one day loan is at 13% per annum but penalties if you don't pay by midnight are another 13%. This is not an actual default as you pay the next day. However, the penalty may yield another 13% annualized charge. Interesting angle. I always knew that mobile loan interest is waaay above the 13% interest limit. I also do not think that CBK officially tracks mobile loans as an asset class. In 2017 banking survey report, mobile lending is not even mentioned by way of discussing its impact, magnitude, level of defaults etc. Its like CBK has shut its eyes to mobile lending and only gives stats on formal lending. Thus they quote average bank interest rates as 13% while I am sure if mobile lending is included it would be a different picture. I should have been clearer. Advances from banks directly to borrowers are capped at 13%. There is no clear restriction on penalties for late payment. Advances where a Bank gives money to Safaricom in bulk are also capped. However, whatever rate Safaricom then charges to the final borrower woukd not be capped at 13% p.a. the first advance to Scom would appear in CBK reporting as a bulk formal loan. Is that how it works? I was not aware of that. I always assumed when you borrow from mpesa, you are borrowing from CBA bank. Your mpesa account is actually a customer account at CBA. Safaricom only facilitates the transactions at a fee. Same for Equity, Barclays, KCB mobile lending. The risk of default is with the bank, not with Safaricom. As such, if mobile lending rates were captured as part of bank lending, the bank lending rate is definitely not 13%. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Member Joined: 1/1/2011 Posts: 396
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tom_boy wrote:jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:We need this mobile lending to be regulated. China realised this fact in 2017. Are we bigger than China? Are we special in a way to make us not feel the effects of such reckless lending? I agree. But this is not reckless lending. It is smart lending from a purely business perspective. Not condoning it, but who would refuse to lend at 90% per annum, with a portfolio of, say KES10Mill comprising multiple smaller loans of around KES 1k. Even with a 50% default rate, you are still in the money. So the lending is not reckless, but obviously far from ethical. Its not an ethical issue for me. Its reckless especially if banks are the ones doing the lending. We have seen that in China, online lenders have folded due to massive defaults. I dont mind a fintech putting its money on the line via mobile lending. I am opposed to banks putting depositors money on the line. That is my money and your money. Who is checking to see that they dont put too much money in this asset segment. If a bank has say 50% of loans on mobile, what will happen to that bank in case of massive default. What will be the domino effect on the financial system. We now have banks in trouble like hfck going online and mobile. Next they will be giving mobile loans. Hungry execs looking for outsize bonus will dish out more money on mobile coz its easy money. When the defaults come, not if but when, it will be ugly. The CBK is the regulator for Banks in Kenya. Banks' lending portfolios form part of regular reporting requirements. I believe that Banks are only lending to their OWN existing clients as they need to meet KYC requirements. If hungry execs wanted to dish out loans for "easy" money, they would simply lend larger amounts without checking credit status or investing in digitisation. The real isssue here is not that Banks are finding new ways to advance loans while distributing risk, it is whether or not the lending is being used to advance loans that are designed to attract penalties, effectively circumventing the interest rates cap. I.e. the one day loan is at 13% per annum but penalties if you don't pay by midnight are another 13%. This is not an actual default as you pay the next day. However, the penalty may yield another 13% annualized charge. Interesting angle. I always knew that mobile loan interest is waaay above the 13% interest limit. I also do not think that CBK officially tracks mobile loans as an asset class. In 2017 banking survey report, mobile lending is not even mentioned by way of discussing its impact, magnitude, level of defaults etc. Its like CBK has shut its eyes to mobile lending and only gives stats on formal lending. Thus they quote average bank interest rates as 13% while I am sure if mobile lending is included it would be a different picture. I should have been clearer. Advances from banks directly to borrowers are capped at 13%. There is no clear restriction on penalties for late payment. Advances where a Bank gives money to Safaricom in bulk are also capped. However, whatever rate Safaricom then charges to the final borrower woukd not be capped at 13% p.a. the first advance to Scom would appear in CBK reporting as a bulk formal loan. Is that how it works? I was not aware of that. I always assumed when you borrow from mpesa, you are borrowing from CBA bank. Your mpesa account is actually a customer account at CBA. Safaricom only facilitates the transactions at a fee. Same for Equity, Barclays, KCB mobile lending. The risk of default is with the bank, not with Safaricom. As such, if mobile lending rates were captured as part of bank lending, the bank lending rate is definitely not 13%. If the lender is the bank, then there is NO way they can lend at above 13% without running afoul of the law. There are many requirements for a bank to advance loans, inclusing FULL disclosure of the Toal Cost of Credit (akin to APR in Western markets). This is not the case for these new digital offerings. I am not sure about the underlying risk-sharing agreements, but if Safcom is the one running the big data analytics and making a call on one's credit limit, then I believe they would be required to assume the bulk of the risk for the final loan advances. The banks are taking risk on Safaricom, not the regular raia at the end of the chain. I doubt SCOM would even disclose their customer behavioural data or analytic algirithms to ANY external party. My thoughts though.
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Rank: Veteran Joined: 7/3/2007 Posts: 1,634
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tom_boy wrote:jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:We need this mobile lending to be regulated. China realised this fact in 2017. Are we bigger than China? Are we special in a way to make us not feel the effects of such reckless lending? I agree. But this is not reckless lending. It is smart lending from a purely business perspective. Not condoning it, but who would refuse to lend at 90% per annum, with a portfolio of, say KES10Mill comprising multiple smaller loans of around KES 1k. Even with a 50% default rate, you are still in the money. So the lending is not reckless, but obviously far from ethical. Its not an ethical issue for me. Its reckless especially if banks are the ones doing the lending. We have seen that in China, online lenders have folded due to massive defaults. I dont mind a fintech putting its money on the line via mobile lending. I am opposed to banks putting depositors money on the line. That is my money and your money. Who is checking to see that they dont put too much money in this asset segment. If a bank has say 50% of loans on mobile, what will happen to that bank in case of massive default. What will be the domino effect on the financial system. We now have banks in trouble like hfck going online and mobile. Next they will be giving mobile loans. Hungry execs looking for outsize bonus will dish out more money on mobile coz its easy money. When the defaults come, not if but when, it will be ugly. The CBK is the regulator for Banks in Kenya. Banks' lending portfolios form part of regular reporting requirements. I believe that Banks are only lending to their OWN existing clients as they need to meet KYC requirements. If hungry execs wanted to dish out loans for "easy" money, they would simply lend larger amounts without checking credit status or investing in digitisation. The real isssue here is not that Banks are finding new ways to advance loans while distributing risk, it is whether or not the lending is being used to advance loans that are designed to attract penalties, effectively circumventing the interest rates cap. I.e. the one day loan is at 13% per annum but penalties if you don't pay by midnight are another 13%. This is not an actual default as you pay the next day. However, the penalty may yield another 13% annualized charge. Interesting angle. I always knew that mobile loan interest is waaay above the 13% interest limit. I also do not think that CBK officially tracks mobile loans as an asset class. In 2017 banking survey report, mobile lending is not even mentioned by way of discussing its impact, magnitude, level of defaults etc. Its like CBK has shut its eyes to mobile lending and only gives stats on formal lending. Thus they quote average bank interest rates as 13% while I am sure if mobile lending is included it would be a different picture. I should have been clearer. Advances from banks directly to borrowers are capped at 13%. There is no clear restriction on penalties for late payment. Advances where a Bank gives money to Safaricom in bulk are also capped. However, whatever rate Safaricom then charges to the final borrower woukd not be capped at 13% p.a. the first advance to Scom would appear in CBK reporting as a bulk formal loan. Is that how it works? I was not aware of that. I always assumed when you borrow from mpesa, you are borrowing from CBA bank. Your mpesa account is actually a customer account at CBA. Safaricom only facilitates the transactions at a fee. Same for Equity, Barclays, KCB mobile lending. The risk of default is with the bank, not with Safaricom. As such, if mobile lending rates were captured as part of bank lending, the bank lending rate is definitely not 13%. Banks neatly escaped this noose when, shortly after the Caps came into force, CBK and KCB were decided to baptize their mobile loan charges as 'facilitation fees' not interest, and got away with it. I expected Opus Dei to point out the error of their ways, but seeing as he was against the caps from the word go, he simply winked and turned over to sleep. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Member Joined: 1/1/2011 Posts: 396
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Wakanyugi wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:jmbada wrote:tom_boy wrote:We need this mobile lending to be regulated. China realised this fact in 2017. Are we bigger than China? Are we special in a way to make us not feel the effects of such reckless lending? I agree. But this is not reckless lending. It is smart lending from a purely business perspective. Not condoning it, but who would refuse to lend at 90% per annum, with a portfolio of, say KES10Mill comprising multiple smaller loans of around KES 1k. Even with a 50% default rate, you are still in the money. So the lending is not reckless, but obviously far from ethical. Its not an ethical issue for me. Its reckless especially if banks are the ones doing the lending. We have seen that in China, online lenders have folded due to massive defaults. I dont mind a fintech putting its money on the line via mobile lending. I am opposed to banks putting depositors money on the line. That is my money and your money. Who is checking to see that they dont put too much money in this asset segment. If a bank has say 50% of loans on mobile, what will happen to that bank in case of massive default. What will be the domino effect on the financial system. We now have banks in trouble like hfck going online and mobile. Next they will be giving mobile loans. Hungry execs looking for outsize bonus will dish out more money on mobile coz its easy money. When the defaults come, not if but when, it will be ugly. The CBK is the regulator for Banks in Kenya. Banks' lending portfolios form part of regular reporting requirements. I believe that Banks are only lending to their OWN existing clients as they need to meet KYC requirements. If hungry execs wanted to dish out loans for "easy" money, they would simply lend larger amounts without checking credit status or investing in digitisation. The real isssue here is not that Banks are finding new ways to advance loans while distributing risk, it is whether or not the lending is being used to advance loans that are designed to attract penalties, effectively circumventing the interest rates cap. I.e. the one day loan is at 13% per annum but penalties if you don't pay by midnight are another 13%. This is not an actual default as you pay the next day. However, the penalty may yield another 13% annualized charge. Interesting angle. I always knew that mobile loan interest is waaay above the 13% interest limit. I also do not think that CBK officially tracks mobile loans as an asset class. In 2017 banking survey report, mobile lending is not even mentioned by way of discussing its impact, magnitude, level of defaults etc. Its like CBK has shut its eyes to mobile lending and only gives stats on formal lending. Thus they quote average bank interest rates as 13% while I am sure if mobile lending is included it would be a different picture. I should have been clearer. Advances from banks directly to borrowers are capped at 13%. There is no clear restriction on penalties for late payment. Advances where a Bank gives money to Safaricom in bulk are also capped. However, whatever rate Safaricom then charges to the final borrower woukd not be capped at 13% p.a. the first advance to Scom would appear in CBK reporting as a bulk formal loan. Is that how it works? I was not aware of that. I always assumed when you borrow from mpesa, you are borrowing from CBA bank. Your mpesa account is actually a customer account at CBA. Safaricom only facilitates the transactions at a fee. Same for Equity, Barclays, KCB mobile lending. The risk of default is with the bank, not with Safaricom. As such, if mobile lending rates were captured as part of bank lending, the bank lending rate is definitely not 13%. Banks neatly escaped this noose when, shortly after the Caps came into force, CBK and KCB were decided to baptize their mobile loan charges as 'facilitation fees' not interest, and got away with it. I expected Opus Dei to point out the error of their ways, but seeing as he was against the caps from the word go, he simply winked and turned over to sleep. No way Gavna would collude with any market player. The law covered interest, NOT charges. That is why you will see banks' net interest income down or flat while non-interest income is up.
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Rank: Elder Joined: 7/22/2009 Posts: 7,452
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Link: For those overtaken by technology and with a mindset of 1990s Barclays Bank!!!Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Already they have sent me 'my' fuliza limit and adjusted twice upwards yet i have not accessed/used the service. This is the only serious company in Kenya. Rest are bongo lala .... including once serious Equity Bank. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 7/22/2009 Posts: 7,452
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For those who are saying Banks are seating on money!!!Also explains why the government is not in a hurry to revoke/review the interest rates cap! They are the biggest beneficiaries!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Member Joined: 2/20/2007 Posts: 767
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Why is it that we are freely informed on commercial bank lending to govt, lending for mortgage but no information of how much banks have put out on mobile lending. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Member Joined: 1/1/2011 Posts: 396
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tom_boy wrote:Why is it that we are freely informed on commercial bank lending to govt, lending for mortgage but no information of how much banks have put out on mobile lending. It is still a standard loan. And disbursed by SCOM, not the bank itself.
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Rank: Elder Joined: 7/22/2009 Posts: 7,452
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tom_boy wrote:Why is it that we are freely informed on commercial bank lending to govt, lending for mortgage but no information of how much banks have put out on mobile lending. What you need to know is that there will most probably be far much lower defaults on mobile loans as compared to "normal" loans. familiarize yourself with data analytics, data science, big data etc. And while at it, ask yourself why CBA chose to work with Safaricom instead of simply doing their own app! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 7/22/2009 Posts: 7,452
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Angelica _ann wrote:Already they have sent me 'my' fuliza limit and adjusted twice upwards yet i have not accessed/used the service. This is the only serious company in Kenya. Rest are bongo lala .... including once serious Equity Bank. Let other fellows and companies perambulate as Safcom is making use of cutting edge technology to come up with new products that fellows and companies oblivious of the technology keep saying is not possible even as it is being done. I can tell you for a fact that R & D at safaricom is at another level. No other company comes close in the region let alone in the country. It is organised, well thought out, extremely well funded, proper working groups and reporting structures etc. And they get very handsome returns for their effort and investment. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Member Joined: 1/1/2011 Posts: 396
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MaichBlack wrote:Angelica _ann wrote:Already they have sent me 'my' fuliza limit and adjusted twice upwards yet i have not accessed/used the service. This is the only serious company in Kenya. Rest are bongo lala .... including once serious Equity Bank. Let other fellows and companies perambulate as Safcom is making use of cutting edge technology to come up with new products that fellows and companies oblivious of the technology keep saying is not possible even as it is being done. I can tell you for a fact that R & D at safaricom is at another level. No other company comes close in the region let alone in the country. It is organised, well thought out, extremely well funded, proper working groups and reporting structures etc. And they get very handsome returns for their effort and investment. Yes. SCOM is "catwalking" to profit growth while banks plod along in clogs😂😂
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