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8 Pages«<34567>»
Meet M-Shwari from Safaricom!!!!
josiah33
#81 Posted : Wednesday, November 28, 2012 10:03:28 AM
Rank: Elder


Joined: 1/27/2011
Posts: 1,768
I tried updating my Mpesa menu to get M-Swari and it doesn't work.
Muheani
#82 Posted : Wednesday, November 28, 2012 10:32:10 AM
Rank: Veteran


Joined: 11/20/2009
Posts: 1,024
josiah33 wrote:
I tried updating my Mpesa menu to get M-Swari and it doesn't work.


josh
Had same prob
Was sorted through safcom twitter. Tweet them n DM your Number
2012
#83 Posted : Wednesday, November 28, 2012 12:07:06 PM
Rank: Elder


Joined: 12/9/2009
Posts: 4,011
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Criticism is the fuel that drives winners forward
Elder
#84 Posted : Wednesday, November 28, 2012 12:20:46 PM
Rank: Elder


Joined: 9/7/2010
Posts: 2,148
Location: elderville
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Now imagine doing debt collection for 50k or less for say five million people. Nightmare stuff right there.
He who can express in words the ardour of his love, has but little love to express. - Petrach, Son. (That men by various ways arrive at the same end. - Montaigne, The Essays of.)
Caveman
#85 Posted : Wednesday, November 28, 2012 12:31:18 PM
Rank: Member


Joined: 4/15/2009
Posts: 246
Elder wrote:
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Now imagine doing debt collection for 50k or less for say five million people. Nightmare stuff right there.

In my opinion, Safaricom considered all these before going commercial on the product. Very few people will be eligible for a loan exceeding Ksh. 1,000.
rock
#86 Posted : Wednesday, November 28, 2012 12:52:20 PM
Rank: Veteran


Joined: 2/25/2009
Posts: 969
Caveman wrote:
Elder wrote:
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Now imagine doing debt collection for 50k or less for say five million people. Nightmare stuff right there.

In my opinion, Safaricom considered all these before going commercial on the product. Very few people will be eligible for a loan exceeding Ksh. 1,000.
Vetting process is strict.They are encouraging people to use their banking system.
Gadaffi
#87 Posted : Wednesday, November 28, 2012 1:30:34 PM
Rank: Member


Joined: 2/13/2011
Posts: 225
Location: Nairobi
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

I thot the max loan amt is 20k, wea r u gettin 100k.
Nway, loan default can b a nightmare n they wil nid 2 form a competent credit section.
Does anyone whether they will b marking a lien on ur savings in M-shwari A/C when u take up a loan??
Obi 1 Kanobi
#88 Posted : Wednesday, November 28, 2012 2:28:09 PM
Rank: Elder


Joined: 7/23/2008
Posts: 1,835
@7.5% per month, Safcom has now officially entered the shylock business.
"Everyone has a plan until they get punched in the mouth" Mike Tyson."
Mpenzi
#89 Posted : Wednesday, November 28, 2012 3:44:35 PM
Rank: Veteran


Joined: 10/17/2008
Posts: 1,228
Gadaffi wrote:
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

I thot the max loan amt is 20k, wea r u gettin 100k.
Nway, loan default can b a nightmare n they wil nid 2 form a competent credit section.
Does anyone whether they will b marking a lien on ur savings in M-shwari A/C when u take up a loan??


Minimum Loan - Kshs 100/=

Maximum Loan - Kshs 20,000/=

Despite the maximum of 20K, the max that one can actually borrow seems to be much lower to reduce risk of default.
wa P
#90 Posted : Wednesday, November 28, 2012 6:16:06 PM
Rank: Member


Joined: 5/26/2009
Posts: 214
Location: Nairobi
[quote=Caveman]I bet this will be the next big thing after Mpesa.
http://www.businessdaily.../-/kkxxo2z/-/index.html[/quote]

Tough luck!! This is not an M-pesa peer, just a by-product like paybill or the better known flop , M-Kesho.
Safcom has nothing to do with M-swali; other than providing the m-pesa platform and bodies (subscribers) at a small shared fee.

Wishing CBA luck, but pointing out few facts:
1. If you default, they cannot call your contacts. That will be breach of confidentiality (on CBA's part) regardless of what their Tand C say. (the T and C are not superior to legislation.)
2. The cost of following up a default of couple of thousands will not be worthwhile. ask 'Member'.
3. The biggest dilemma by CBK is a growing population of defaulters who seem unfazed by CRB adverse listings. A good number of borrowers seem to be finding fame out of giving banks a piece of their trade.

But again, I wish cba luck.

On a light note: The launch had likes of Kajwang, jugu na dungu (any relation with kwa jugunas?) and githae. The only time such got together is the day before 'bullfighter karware spoke - if you get my drift.
Impunity
#91 Posted : Wednesday, November 28, 2012 10:20:08 PM
Rank: Elder


Joined: 3/2/2009
Posts: 18,787
Location: Masada
rock wrote:
Caveman wrote:
Elder wrote:
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Now imagine doing debt collection for 50k or less for say five million people. Nightmare stuff right there.

In my opinion, Safaricom considered all these before going commercial on the product. Very few people will be eligible for a loan exceeding Ksh. 1,000.
Vetting process is strict.They are encouraging people to use their banking system.


I know a few wazuans who will never get anything more than 1,000 in loan; the ones whose bank accounts red KES 3 five days after the salary has been credited into their accounts; one of them is the starter of the furahiday post.
He will be surprised to the bone and he will come back here badmouthing M-shura!
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
You know you've made it when you get a parking space for your yatcht.

PROMANETT
#92 Posted : Wednesday, November 28, 2012 10:24:40 PM
Rank: New-farer


Joined: 1/25/2012
Posts: 15

Borrow with M-Shwari

The M-Shwari Loan Account is a micro-credit product which allows you to borrow money in times of need or in order to grow your business. A one-time fee of 7.5% is levied for each loan. Borrow with M-Shwari and start to build your credit history today. In order to qualify for a loan all you need is to be an M-PESA subscriber for 6 months, save on M-Shwari and actively use other Safaricom services such as voice, data and M-PESA. To enquire on how much you can borrow, dial *234*6#

Source..http://www.cbagroup.com/m-shwari/mshwari-more.html

21. If request for a loan of Kshs1,000 how much will receive and how much will payback?

You will receive the full loan amount requested if you qualify.You will however be required to pay back Kshs 1,100 within 3 days because each loan attracts 10% facility fee.

30. Do I get charged interest on my M-Shwari loan?

The M-Shwari loan DOES NOT attract any interest.The 10% charged is loan facility fee payable only once for each loan taken.

Source...http://www.cbagroup.com/m-shwari/FAQs.pdf

Who is fooling who...is it 7.5% or 10% or both!!
Wealth, like happiness, is never attained when sought after directly. It comes as a by-product of providing a useful service - Henry Ford
mawinder
#93 Posted : Thursday, November 29, 2012 7:51:53 AM
Rank: Elder


Joined: 4/30/2008
Posts: 4,606
Impunity wrote:
rock wrote:
Caveman wrote:
Elder wrote:
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Now imagine doing debt collection for 50k or less for say five million people. Nightmare stuff right there.

In my opinion, Safaricom considered all these before going commercial on the product. Very few people will be eligible for a loan exceeding Ksh. 1,000.
Vetting process is strict.They are encouraging people to use their banking system.


I know a few wazuans who will never get anything more than 1,000 in loan; the ones whose bank accounts red KES 3 five days after the salary has been credited into their accounts; one of them is the starter of the furahiday post.
He will be surprised to the bone and he will come back here badmouthing M-shura!
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

@Impunity,how would you know?are you the barman in Kibera and the fellow has been avoiding your local?wait for him next week.
alma
#94 Posted : Thursday, November 29, 2012 8:09:36 AM
Rank: Elder


Joined: 7/20/2007
Posts: 3,672
So let me get this straight.

To borrow 1k I need to have 1k?
It is not a loan but a "facilitation" fee?

Let me help the safaricon fellas. Mama mbogas are some of the shrewdest business people in the world. They won't take that loan even if you paid them.

However, the employed fellas especially on wazua will go for it. They are marketing it to the wrong people.

Is calling it a facilitation fee a way of trying to avoid being called a shylock?

This product won't get very far with mama mbogas. That you can cash at CBA bank.
Money Whisperer
#95 Posted : Thursday, November 29, 2012 8:17:44 AM
Rank: Member


Joined: 8/7/2010
Posts: 659
Location: Wazuaville
Obi 1 Kanobi wrote:
@7.5% per month, Safcom has now officially entered the shylock business.

Applause Exactly! This product will hurt shylocks and credit cards not mainstream banks' and MFI's loan products.
"Money never sleeps"
S.Mutaga III
#96 Posted : Thursday, November 29, 2012 8:19:26 AM
Rank: Member


Joined: 3/26/2012
Posts: 496
Wazua has some of the smartest chaps around.If they still dont know precisely how the loan is acquired and its terms,I wonder how they expect Wanjiku to fathom all this info.Secondly,with some saccos I know back at home which charge 5% interest on loans for members after 3 months,this will be a hard sell.Period!
A successful man is not he who gets the best, it is he who makes the best from what he gets.
FancyFace
#97 Posted : Thursday, November 29, 2012 9:24:29 AM
Rank: Member


Joined: 7/31/2009
Posts: 706
Elder wrote:
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Now imagine doing debt collection for 50k or less for say five million people. Nightmare stuff right there.

my calculator cannot even do the math for this giving me an error smile

Problems can get out of proportion, and not only in the wee small hours. Don't let the problems eclipse the Master. Let the Master eclipse the problems.
mawinder
#98 Posted : Thursday, November 29, 2012 9:33:46 AM
Rank: Elder


Joined: 4/30/2008
Posts: 4,606
Will stick to my credit card which has an interest charge of 3% per month.
McReggae
#99 Posted : Thursday, November 29, 2012 10:13:55 AM
Rank: Elder


Joined: 6/17/2008
Posts: 21,667
Location: Nairobi
mawinder wrote:
Impunity wrote:
rock wrote:
Caveman wrote:
Elder wrote:
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Now imagine doing debt collection for 50k or less for say five million people. Nightmare stuff right there.

In my opinion, Safaricom considered all these before going commercial on the product. Very few people will be eligible for a loan exceeding Ksh. 1,000.
Vetting process is strict.They are encouraging people to use their banking system.


I know a few wazuans who will never get anything more than 1,000 in loan; the ones whose bank accounts red KES 3 five days after the salary has been credited into their accounts; one of them is the starter of the furahiday post.
He will be surprised to the bone and he will come back here badmouthing M-shura!
Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly

@Impunity,how would you know?are you the barman in Kibera and the fellow has been avoiding your local?wait for him next week.


Meet the sufferers who think all are sufferers.....you wish you could roll ma style dawg!!!!
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
Impunity
#100 Posted : Thursday, November 29, 2012 10:17:57 AM
Rank: Elder


Joined: 3/2/2009
Posts: 18,787
Location: Masada
FancyFace wrote:
Elder wrote:
2012 wrote:
How will they deal with defaulters because I can see more defaults than anything else. A loan of 100k to be pain at 7.5% in 30 days spells M-shauri yao.

Now imagine doing debt collection for 50k or less for say five million people. Nightmare stuff right there.

my calculator cannot even do the math for this giving me an error smile


Use the slide rule.
smile smile smile
You know you've made it when you get a parking space for your yatcht.

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