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Choice Microfinance Bank in Kenya
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Lolest!
#11 Posted : Sunday, June 14, 2015 8:06:00 AM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
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
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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whiteowl
#12 Posted : Sunday, June 14, 2015 10:10:01 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
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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Boris Boyka
#13 Posted : Sunday, June 14, 2015 10:35:54 AM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
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.

d'oh! which people?? Regulations work...unless you aren't kenyan...cbk has regulated banks that they no longer mushroom and collapse anyhowly!Shame on you 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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enyands
#14 Posted : Sunday, June 14, 2015 10:38:22 AM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
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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  | | Edit by user: Sunday, June 14, 2015 10:42 AM | Reason: Not specified
whiteowl
#15 Posted : Sunday, June 14, 2015 11:23:29 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
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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Lolest!
#16 Posted : Sunday, June 14, 2015 2:43:49 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
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
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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murchr
#17 Posted : Monday, June 15, 2015 5:47:24 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
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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murchr
#18 Posted : Thursday, July 16, 2015 11:52:28 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
"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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shalishali
#19 Posted : Friday, July 31, 2015 11:37:19 AM
Rank: Member

Joined: 12/15/2009
Posts: 142
Location: Nairobi
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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Metasploit
#20 Posted : Tuesday, April 04, 2017 5:19:02 PM
Rank: Veteran

Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
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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