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THIS IS NOW CONTENT 😂 Credits : MC Kibe the HeavyThinker
Urgent! We're looking for KaSmuel McOure @_KasKazini Please share this message far and wide. Retweet when you see this.. #FindKasmuel #RejectFinanceBill2024
Guys when you tweet about the abductions by the Kenyan government, ensure to tag international media houses @CNNAfrica @AJEnglish @BBCAfrica @CNN @BBCBreaking @BBCWorld @ABC @FoxNews #RejectFinanceBill2024
The Chief Justice is SILENT. The Attorney General is SILENT. The Inspector General is SILENT. DIPLOMATS are SILENT. In the end, we will remember not the words of our enemies but the silence of our friends. ~ Martin Luther King, Jr. #RejectFinanceBill2024
The youth of Kikuyu are furious with MP Kimani Ichung'wah for backing a corrupt, oppressive government that kills demonstrators and shields thieves of public funds. We're taking to the streets for #OperationKimaniOut on Tuesday! Enough is enough! #EndImpunity
Let it be known the demos were peaceful the goons taking over now are hired by the government to muddy the whole thing #RejectFinanceBill2024
Mid-Late twenties: Even your emotions are afraid of your uncertainty in life. You may seem to be doing okay but really, you are all over the place. And why is it that the person you like, the person you're fucking , and the person you're in love with are three different people?
They simply offer customers a means to buy time, but at a premium so costly it would be illegal for a Kenyan bank. Ni hayo tu kwa Sasa. Let me go back to my books now🤯😳😅
You can’t be listed under CRB for not paying fuliza the way you would by banks and the digital mobile lending apps. They will just keep racking up your debt the more you don’t pay and it’s a classic debt trap
It’s attractiveness and addictive ness comes from the fact that it is so easily accesible on your phone, it’s size and brand clout, lack of disclosure of the actual full interest in its terms and conditions(the 1.083% ni ya kufumba macho honestly) and the icing on the cake
Safcom is essentially a telco that is now offering financial services but doesn’t want to be classified as such and can’t according to the law. Communications authority powers are limited to their communication services. So who gon check them? NOBODY!
And another thing that makes it all the more disturbing is that it does not fall under Kenya Bankers Association so it is not a regulated product like what banks offer so they will inflate that interest rate to their hearts desires without any repercussions in the long run
And of course this real cost of debt is never mentioned much lest Kenyans know they are not paying that 1.083% or the 7.5% for fuliza. It’s bad for business duhhh. They choke it down to product differentiation but it’s purely extortionist.
Safcom’s fuliza is no different from all these digital lending apps that are all over Kenya burdening the majority of Kenya’s poor with debt that can only be classified as slavery now. That’s why big papers like financial times call this ‘perpetual debt in the silicon savanna’
What this means In numbers exactly is this: If you borrow 1000 from mshwari you’ll part with around 56 bob interest If you borrow the same 1000 with fuliza you’ll part with around 244 bob This is if both debts last 30days Those numbers are INSANEEE
Compare this with their other products like Mshwari that charge 7.5% standard fee(not revolving on outstanding balance like fuliza) which is essentially around 90% per year(still high but incomparable by a long shot)
In essence, what that really means is that while a bank will give you an annual rate of not more than 13.6(currently the highest by Jamii bora bank as per CBK website June report), Safcom will give you an annualized rate of 395.2% per year🤯
I’m the safcom website under FAQs for fuliza they have clearly indicated that you will be charged a one off interest rate of 1.083% and a daily administrative fee on the outstanding balance ranging from KES 2-30 for a limit of 0-70k Those numbers don’t look bad right? WRONG
The biggest thing about Fuliza is the interest that it earns on the borrowed amount. What they avoid talking about at all costs because if Kenyans really knew what’s up they would avoid it like the plague. Let me break it down for you like the FA I am
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👣ForReal🦠
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Zahir
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CEDRIC ABDALLAH
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Memo💛
@lynnememo -
Tamnai Mitchelle🦖
@MitchelleTamnai -
Jay Juma
@MClemzen -
imjustagirl
@elsie_oburu -
Ghostee
@CarlingtonKari1 -
Magdalene Kemunto
@MagdaleneKemun1 -
Natasha Ogwonyo
@NOgwonyo -
Heaven Sent 🐐
@showkizzy -
Mwangi anthony
@Anthony40646365 -
Khayeli✧
@KhayeliTracy -
Lekeri Jnr
@PLekeri
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