Rank: Member Joined: 1/3/2011 Posts: 264 Location: Nairobi
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Mike Ock wrote:ngapat wrote:Got this sms from ubapesa.Seems all is not well Quote: Effective midnight 20/11/18. Due to circumstances, we shall suspend the lenders facility until further notice. For more details contact us on 0709693000 This is one of those business ideas that needs a functional judicial system in order to work well. I don't think the threat of CRB is enough, the threat of being fined or jailed must be there when it comes to confronting fraud. Give it time. They can get away with one or two defaults, but once their details are submitted, credit freezes for them untill they settle their balances. Watch this space in 2 year's time. 2020. There is a reason why Tala is raising funds. They know that once virgin land is conquered, the profits wipe away the losses in multiples. The technology and man power being poured into this is the equivalent of throwing everything including the kitchen sink.
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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There was only one way this uba pesa story was going to end For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Member Joined: 1/22/2015 Posts: 682
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Muthawamunene wrote:Mike Ock wrote:ngapat wrote:Got this sms from ubapesa.Seems all is not well Quote: Effective midnight 20/11/18. Due to circumstances, we shall suspend the lenders facility until further notice. For more details contact us on 0709693000 This is one of those business ideas that needs a functional judicial system in order to work well. I don't think the threat of CRB is enough, the threat of being fined or jailed must be there when it comes to confronting fraud. Give it time. They can get away with one or two defaults, but once their details are submitted, credit freezes for them untill they settle their balances. Watch this space in 2 year's time. 2020. There is a reason why Tala is raising funds. They know that once virgin land is conquered, the profits wipe away the losses in multiples. The technology and man power being poured into this is the equivalent of throwing everything including the kitchen sink. Tala is not peer to peer, it is a big company that is loaning you the money, so there is a kasmall fear that most people have of big companies. With Ubapesa it's just another kajamaa over there loaning you the money, hapo ndio madharau inaingia sasa and default rate goes higher.
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Rank: New-farer Joined: 5/19/2014 Posts: 68 Location: Migori
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Tested waters here where i gave ten guys amounts raging from 500 to 3500. Default rate is high. Three guys paid on time. Another three paid defaulted on due date but paid later. The Other four never paid. But i got a refund from the Ubapesa guys for all of the four after 60 days from date of default. Got my money back and ran. Learning to sit on my hands
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Rank: Member Joined: 12/15/2009 Posts: 142 Location: Nairobi
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Mike Ock wrote:Muthawamunene wrote:Mike Ock wrote:ngapat wrote:Got this sms from ubapesa.Seems all is not well Quote: Effective midnight 20/11/18. Due to circumstances, we shall suspend the lenders facility until further notice. For more details contact us on 0709693000 This is one of those business ideas that needs a functional judicial system in order to work well. I don't think the threat of CRB is enough, the threat of being fined or jailed must be there when it comes to confronting fraud. Give it time. They can get away with one or two defaults, but once their details are submitted, credit freezes for them untill they settle their balances. Watch this space in 2 year's time. 2020. There is a reason why Tala is raising funds. They know that once virgin land is conquered, the profits wipe away the losses in multiples. The technology and man power being poured into this is the equivalent of throwing everything including the kitchen sink. Tala is not peer to peer, it is a big company that is loaning you the money, so there is a kasmall fear that most people have of big companies. With Ubapesa it's just another kajamaa over there loaning you the money, hapo ndio madharau inaingia sasa and default rate goes higher. One of the lenders with lowest interest is Baclays Timiza app. Tala is one of the most expensive UKITAFUTA UKABILA UTAKUFA BILA!
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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What is the rate on Mcoop cash for Coop 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: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
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Just a question.
I have not taken any loans from anywhere in the last 20 years.
I have accounts in 2 big banks, both current and fixed deposit accounts.
Will I have a credit score?
Thanks
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Rank: Elder Joined: 2/22/2009 Posts: 2,449 Location: Africa
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shalishali wrote:Mike Ock wrote:Muthawamunene wrote:Mike Ock wrote:ngapat wrote:Got this sms from ubapesa.Seems all is not well Quote: Effective midnight 20/11/18. Due to circumstances, we shall suspend the lenders facility until further notice. For more details contact us on 0709693000 This is one of those business ideas that needs a functional judicial system in order to work well. I don't think the threat of CRB is enough, the threat of being fined or jailed must be there when it comes to confronting fraud. Give it time. They can get away with one or two defaults, but once their details are submitted, credit freezes for them untill they settle their balances. Watch this space in 2 year's time. 2020. There is a reason why Tala is raising funds. They know that once virgin land is conquered, the profits wipe away the losses in multiples. The technology and man power being poured into this is the equivalent of throwing everything including the kitchen sink. Tala is not peer to peer, it is a big company that is loaning you the money, so there is a kasmall fear that most people have of big companies. With Ubapesa it's just another kajamaa over there loaning you the money, hapo ndio madharau inaingia sasa and default rate goes higher. One of the lenders with lowest interest is Baclays Timiza app. Tala is one of the most expensive KCB Mobi loan charges 3.66% for a maximum period of one month. Mobile loans are expensive
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Rank: Elder Joined: 3/29/2011 Posts: 2,242
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Shak wrote:shalishali wrote:Mike Ock wrote:Muthawamunene wrote:Mike Ock wrote:ngapat wrote:Got this sms from ubapesa.Seems all is not well Quote: Effective midnight 20/11/18. Due to circumstances, we shall suspend the lenders facility until further notice. For more details contact us on 0709693000 This is one of those business ideas that needs a functional judicial system in order to work well. I don't think the threat of CRB is enough, the threat of being fined or jailed must be there when it comes to confronting fraud. Give it time. They can get away with one or two defaults, but once their details are submitted, credit freezes for them untill they settle their balances. Watch this space in 2 year's time. 2020. There is a reason why Tala is raising funds. They know that once virgin land is conquered, the profits wipe away the losses in multiples. The technology and man power being poured into this is the equivalent of throwing everything including the kitchen sink. Tala is not peer to peer, it is a big company that is loaning you the money, so there is a kasmall fear that most people have of big companies. With Ubapesa it's just another kajamaa over there loaning you the money, hapo ndio madharau inaingia sasa and default rate goes higher. One of the lenders with lowest interest is Baclays Timiza app. Tala is one of the most expensive KCB Mobi loan charges 3.66% for a maximum period of one month. Mobile loans are expensive They are just Shylocks. "Things that matter most must never be at the mercy of things that matter least." Goethe
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Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley
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So far, how are you guys doing? If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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