How Mwananchi Credit is Changing Lives in Kenya with Its Financial SolutionsJuly 26, 2019
Stepping into Tony Bakers and Catering, a privately owned catering business in Nairobi’s CBD is a feast for the senses.
The catering company, owned by Tony Kinoti, is filled with the aroma of meals Kenyans love.
Tony launched the business in 2012 but had long harbored the dream of reaching more customers through corporate events and outside down events.
This expanding needs and new clientele needed cash and financing solutions that were unique. For years, he was turned down by local banks until 2016 when he stumbled upon Mwananchi Credit- an investor in people.
Mwananchi credit advanced him some short term loan and finance arrangements like weekend loans, LPO financing, as well as logbook loans which helped him meet his business demands without a hitch.
Results like this are the reason Mwananchi Credit Limited began partnering with Kenyans since inception on April 10th 2010. With its slogan of “investors in people”, the company has continued to extend financial services individuals and small businesses across the country, creating jobs and helping jump-start growth along the way.
“Our transformation and innovative loan products have enabled us to cater for the needs of individuals and companies alike. This has set a foundation for impactful and profitable collaborations which saw us win the coveted Automotive Sector Excellence award for logbook loans in 2019,” an elated Dennis Mombo, the Mwananchi Credit’s Director reveals.
When asked about some of the challenges in their industry, Dennis says that, unlike industries deposit taking banks, theirs lending is a bit more costly and risky. Sometimes clients fail to meet agreed repayment obligations leading to drastic measures being taken like auctions just as in the case of traditional banks.
Some of the loans the loans the company offers to Kenyans include:
Salary advance loans
Title deed/secured loans, etc.
The company plans to continue providing Kenyans with innovative loan facilities that will continue to disrupt individual and financing in the country.
Ⓒ 2019 Nairobi Wire