Avoid Mobile Loans by all means—Kariuki Comfort Home CEO

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Comfort Homes CEO Mr Kariuki has advised Kenyans to avoid mobile loans.He argues that unless the loans are helping you to boost business,you should avoid them completely.

“Avoid kukopa loans ovyo ovyo.Unapata mtu ako na Apps kama 30 na ameopa kwa kila App.Ukichnguza hakuna kitu cha maana amefanyia hizo loans.Labda alitumia pesa kufurahisha wanawake ama ku bet.After kukopa,anabaki akijificha ficha na kuzima simu sababu anaogopa kudaiwa”,he commented on Facebook

The CEO emphasized on financial discipline. He urged Kenyans to take loans only when they have important project that can generate more revenue or when they want to grow business. He also cautions against taking loan of more than 20% of the total sales of your business.

Mobile loans are popular in Kenya where one is allowed to borrow up to Ksh 500,000. However, millions of Kenyans have found their names in CRB because they are unable to repay the loans. This has impacted negatively on many people because they are unable to take loans even from banks.

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