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Mobile Loans Ponzi
drogon
#161 Posted : Wednesday, February 06, 2019 11:34:00 AM
Rank: New-farer


Joined: 11/28/2018
Posts: 37
Location: Nairobi
@kawi254 just to clarify.
The borrower does not provide or list referees, they give the loan app permissions to read phone sms and contacts.
When installing the loan app, the user has to allow these permissions. Thats how they got your contacts.

Ni sumbua sana. And embarrassing.
tandich
#162 Posted : Wednesday, February 06, 2019 4:59:55 PM
Rank: Member


Joined: 5/6/2008
Posts: 116
tom_boy
#163 Posted : Wednesday, February 06, 2019 6:15:29 PM
Rank: Member


Joined: 2/20/2007
Posts: 621
tandich wrote:


Great paper. Now we know that as of 2017, 70% of digital loans were for other reasons other than business. We also know that 50% either paid late or defaulted. May not be a very lucrative sector for banks. Supports the figures from CBA whereby despite having 40m accounts and mshwari being the leading digital lender, its assets and profits are not much better than poor small SME bank NIC.

All the more why CBK needs to disclose figures that banks are lending on mobile and default rates for banks specifically.

I am surprised that in 2017 only 3% of digital loans went to gambling. However this was a respondents survey and sometimes people dont tell the truth about stuff. I wish a similar survey could be done using hard core data from CBK and CCK and mobile phone companies.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
Rollout
#164 Posted : Wednesday, February 06, 2019 7:12:59 PM
Rank: Member


Joined: 4/26/2011
Posts: 685
I think this is a brilliant idea, but you need house money to back the platform otherwise it is a Ponzi scheme. If any founder of one of the platform is interested in selling equity of the platform to raise house money then I am interested

The idea is actually transformational if you have the right vision and the right management who understand how to build a business and not a technology that is meant to steal for people/Ponzi scheme.
murchr
#165 Posted : Wednesday, February 06, 2019 7:30:45 PM
Rank: Elder


Joined: 2/26/2012
Posts: 13,904
Welcome back Rollout!! You vanished after that Kikuyu woman Laughing out loudly
"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
.
Rollout
#166 Posted : Wednesday, February 06, 2019 7:33:25 PM
Rank: Member


Joined: 4/26/2011
Posts: 685
murchr wrote:
Welcome back Rollout!! You vanished after that Kikuyu woman Laughing out loudly


Man, she clued me to the couch!
murchr
#167 Posted : Wednesday, February 06, 2019 7:34:17 PM
Rank: Elder


Joined: 2/26/2012
Posts: 13,904
Rollout wrote:
murchr wrote:
Welcome back Rollout!! You vanished after that Kikuyu woman Laughing out loudly


Man, she clued me to the couch!



Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Applause
"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
.
Rollout
#168 Posted : Wednesday, February 06, 2019 7:39:11 PM
Rank: Member


Joined: 4/26/2011
Posts: 685
is Pesesha still working?
murchr
#169 Posted : Wednesday, February 06, 2019 8:00:25 PM
Rank: Elder


Joined: 2/26/2012
Posts: 13,904
Rollout wrote:
is Pesesha still working?


That name has been floated around https://pezesha.com/
"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
.
Rollout
#170 Posted : Wednesday, February 06, 2019 8:25:36 PM
Rank: Member


Joined: 4/26/2011
Posts: 685
murchr wrote:
[quote=Rollout]is Pesesha still working?


That name has been floated around https://pezesha.com/[/quote]

The picture alone tells me its a Mzungu who owns it
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