CS Rotich’s Kenyan pattern of borrowing from Mshwari to pay Tala& finally Fuliza revealed!

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Former Kiambu Governor William Kabogo has expressed concern with the way Henry Rotich keeps borrowing money he can’t payback.

Kabogo has stated that Rotich borrowed from Equity bank last year and failed to pay then he has gone ahead to borrow from the Commercial Bank Africa(CBA) to pay Equity which William is sure he will not be able to pay.

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“With that trend he’ll surely borrow from another bank next year to pay CBA,”he added.

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Kenyans, however, have said Rotich is only behaving like them as they borrow from one mobile lending services like Tala and okash company to pay another.

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Currently, there are more than 380,000 Kenyans that have so far defaulted on loans taken from mobile money lenders according to a comprehensive report by Metropol Corporation CEO, Sam Omukoko.

Even though there is a sense of acceleration of loans acceptance rate, the Credit Reference Bureau (CRB) indicates that the default rate stands at 2 per cent of the total accounts.

On the other hand, the number of Kenyans with multiple loans from multiple mobile lenders stands at 7.6 million.

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