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Barclays May Exit Africa, BBK Director Awori Responds.

Sunday, February 28, 2016

barclays bank

Can South African financial problems affect the whole of Africa?Where will the 45000 Barclays bank Africa Group employees go?

Barclays PLC Chief Executive Jes Staley has decided to exit the bank’s operations in Africa, the Financial Times said on Friday, citing sources familiar with the matter.

The UK Headquartered bank’s CEO is planning to announce on 1st March that the British bank has decided to exit its African operations in a move to refocus the bank on its core UK and US markets.

After a review of the African business led by Jes Staley, the bank’s board decided that in principle it made strategic sense to get out of the continent due to the slowing down South Africa economy which has been caused majorly by the devaluation of the South African Rand against the British pound.

Barclays PLC who have a 62.3 per cent stake in Barclays Africa Group are reported to have formed a committee to examine how and when to sell the Barclays Africa group, the sale however will depend on many factors.

Barclays has operated in Africa for about a century and it has branches in about 12 African countries, including Kenya, and a total of 45,000 employees. The bank’s board took the decision last week at a review led by Staley and plans to announce the exit on Tuesday, the FT said. The board has appointed a subcommittee to study how and when to sell Barclays Africa, the FT said.

Staley’s review came after South African President Jacob Zuma decided to change his finance minister twice in less than a week at a time when the economy is under severe stress.

Barclays’ African business had 36 billion pounds ($54 billion/Sh5.5 trillion) of assets on a risk-adjusted basis and made a profit of 791 million pounds in the first nine months of this year, or 13 per cent of the bank’s core profits.

Barclays Bank of Kenya managing director Jeremy Awori declined to comment on what he termed market speculation, but noted that Barclays Africa Group is the holding company for the bank in Kenya. “When Barclays Africa Group was formed in 2013 we created one of the biggest banking groups on the continent. We are a well-capitalised and independently funded business and control the African operations,” Awori said. He said BBK, which is in 100th year of operation, is profitable, has a strong capital base and liquidity position and offers “cutting edge financial solutions”. Awori noted that the bank was this week first to launch the Mobile Point of Sale (mPOS) payment solution that enables customers pay for products and services using their debit and credit cards, while on the go. “Next week we will launch our agency banking proposition to give our customers easier access to our services,” he said. “BBK has a clear strategy and for now we are focused on executing that strategy. Ultimately we remain committed to providing the highest level of service.”


Phones On Credit From Gtel Kenya

Gtel phone

Get mobile phones on credit from Gtel Kenya, an electronics company recently launched in the country. The mobile phone on offer currently is Gtel A717 Explorer mini

-Created with extreme attention to detail.
The A717 Mini has the perfect lightweight body for maximum functionality.
They come in different colors.

Getting the phone
The credit facility is available to employeed individuals
Just show proof of employment (Provide latest 3 months valid bank statement and latest 3 months payslips)
If you have been running a registered business for over a year, you can apply on special arrangements.

The phone costs ksh 41880 on cash basis payment.You can pay monthly(ksh3490) for a period of 12 months.

You'll get amazing free gifts as listed below:
=>Free Airtel talk time (400mins/ month) to any network for 12 months
=>2000 Airtel sms every month to any network for 12 months
=>2GB Airtel data every month for 12 months( +FREE Whatsapp, Facebook and Twitter).

Apply now
Apply for the phone loan

Equity Partners With Orb Energy To Light Up Kenya

Saturday, February 27, 2016

partnership launch
Mkopa solar competitor finally was launched last week when Equity bank went into a partnership with a solar energy company, Orb Energy.
The partnership will see equity bank customers get solar light kits and solar water heaters through a credit plan dubbed 'Eco loan'.Eco loan is just an addition to equity bank's series of merchandise loan products which include; Maji safi loan,Gotv and Dstv financing, Startimes financing, Chloride exide battery financing ,Hashi gas financing and FlexiMax- a Victoria Courts household items financing.

How to get the solar lamps and heaters
Because the partnership was recently agreed upon, the two companies(Equity bank and Orb Energy) are doing the final touches to see how the equipments will reach the consumer and how the beneficiaries will pay for the same(the terms of the eco loan- deposit, instalments and duration).The best thing however is to visit any nearest equity bank branch to confirm Eco loan availability. Loans Kenya however, promises to update readers whenever the eco loan terms will be out for the public.

Eazzy Loan- How To Apply For The Equity Mobiloan

equitel suscriber
Many Kenyans would like to apply for loans through their mobile phones because its easy and convenient. Today let's look at how to apply for an Eazzy Loan( the mobile phone accessible loan) from Equity bank.Kenyans like calling this loan facility 'EQUITY MOBILOAN' which is right, but it's official name is 'EAZZY LOAN'.

Read also KCB Mobiloan

Who can apply for eazzy loan
Only equity bank customers with active accounts(latest transaction done not more than six months ago) and must have Equitel Simcard installed in to their mobile phones. Eqiutel (my money my bank) lines are available at any equity bank branch or equity agent all over the nation.

How to apply for an Eazzy loan
To apply for this loan, simply follow these steps on your mobile phone;
Go to equitel menu.
Select my money.
Select loans.
Select get loan.
Select eazzy loan.
Select account number.
Enter amount.
Then Submit the application.

If you wish to confirm the amount you can borrow first, follow these steps;

Go to equitel menu.
Select my money.
Select loans.
Select get loan.
Select eazzy loan.
Select loan limit.

Read also Other mobile loans

Where To Get Title Loans In Kenya.

title deeds
Several 'Loans Kenya' blog readers have been asking about loans against their title deeds from us.I have a title deed, can I use it as security for a loan?Can I borrow against my land title deed? In Kenya the law allows legitimate owner of a valued land title deed to borrow a loan against it.The question is which lenders easily accepts land title deeds. There are a lot of tedious procedures before accepting a title as collateral for example hiring Valuers, physical land visiting among others. Enough said.Below find the groups of lenders who can easily recommend and approve a borrower for a loan with a title deed.

Read also Where to get startup funding

Saccos/Deposit taking microfinance institutions
Savings and credit cooperative societies popular 'saccos' and deposit taking microfinace institutions are the most friendly lenders in the history of borrowing. The reason being that people form saccos purposely for their benefit unlike commercial banks which wants profits.Fellow members in a Sacco know and understand you better.This means if you want to borrow a loan using your title deed, they easily approve it because they already know your land in question and the loan purpose. Credit managers do not look much into the title but into the guarantors savings.
In Kenya, popular saccos and deposit taking microfinance institutions include;Faulu,Kwft, Imarika sacco,Harambee sacco,Unaitas,Stima sacco,kwetu sacco,Mentor sacco,Milango financial services, Rafiki bank,Mombo sacco,Jamii Bora bank,Mabisa sacco,Century,Zawadisha just to mention a few.

Shylocks accept land title deed as collateral more easily than Saccos.The reason why Shylocks can't top our list is the high percentage of 'ill intention'.They ever pray that you may default in the loan repayment which will see the land ownership turn to them.They have ready money, but be careful with your loan repayment.

Venture capitalists
If your intention for the loan applied for against your land title deed is 'business purpose' especially startups,then venture capitalist can be handy. You'll simply provide the land and venture capitalist will use that land for productivity. The two of you will share ownership. Examples of venture capitalists include; Da Silva Group,Grofin,Nairobi garage,Seed Capital investment, Investeq capital, Jacana capital,AfricInvest, Fasini among others.

commercial banks
Every Kenyan know how hard it is to obtain a loan from our Kenyan banks. The reason being how to make profits and avoid high rates of defaulting in general.For a title loan in specific, it's extremely tedious as earlier explained. Banks come at the end of our list because of high rate of title deed loan denial.We guess only one (1) out of fifty (50) get approved for a title loan.You know who are friends to banks, Civil servants and TSC employees.Three are over fourty commercial banks in kenya.Just try your luck and good luck!

Loans To CRB Blacklisted People In Kenya.

Central bank of kenya
Am blacklisted, can I get a loan?I was listed as a defaulter, can I still borrow?Naomba mkopo but am listed by CRBs. Here, at Loans Kenya, we receive a lot of questions from Kenyans about loans to Credit Reference Bureau listed defaulters. First lets look at what credit reference bureaus (CRBs) are and why they exist.

Credit Reference Bureaus are companies licensed by the Central Bank of Kenya (CBK) to collect, manage and disseminate or share commercial banks' or and microfinance customers' information about their banking and borrowing habits among all lenders in Kenya. If you defaulted a loan with Transnational Bank, you can not borrow from Equatorial commercial bank or any other lender because your defaulting information is available to any financier from the CRBs.Before the inclusion of Credit Reference Bureaus into the lending sector in kenya,Serial defaulters (borrowers who intentionally refused to repay loans) used to borrow from different lenders( Commercial banks, microfinance institutions and non deposit taking quick loan issuers) taking advantage of information asymmetry ( lack of a central point where borrowers borrowing habits can be traced).You can guess what happened.Many finance institutions collapsed due to increased non performing loans.That's why CRBs became handy in kenya.

Currently, there are three companies the CBK licensed as CRBs in Kenya.They include;Creditinfo Credit Reference Bureau Ltd, Credit Reference Bureau Africa Ltd(Transunion) and Metropol Credit Reference Bureau Ltd

Any kenyan with a bank account can get a credit report from these CRBs.
To get your credit report from Metropol, simply dial *433# from your mobile phone or visit www.metropolcorporation.com to fill in a credit score form.
To get your credit report from Transunion,visit www.crbafrica.com or www.transunionafrica.com and fill in the credit score form.
To get that report from Creditinfo, visit www.creditinfo.co.ke and fill the credit report form.

Read here 4 ways to maintain a good credit report.

When blacklisted, the Kenyan law defines that you be denied access to borrowing from lenders for between a minimum period of five years and a maximum period of seven years after which the hold will be declared 'expired'. If one can't wait for expiration date, he/she can choose to fully repay the defaulted loan and all accrued interest and get cleared by the CRBs immediately to be free to borrow again. What happens if you cannot repay the defaulted loan before expiry?

How to borrow while blacklisted
The truth is you cannot do much in terms of borrowing if you are listed by CRBs as a defaulter. Worse is to companies/businesses because the must clear the loans or simply wait for hold expiry.
Employed individuals with active salary bank accounts (the account where your employer deposits your monthly pay) can borrow though lightly by getting Salary Advances or Payday loans.Usually, you get payday loans or salary advances from your bank and less commonly from other lenders recommended to by your bank.
Payday loans/Salary advances are less than 75% your net salary.The higher your salary the higher is the Salary advance.Luckily nowadays, all banks like United Bank of Africa [UBA],Standard Investment Bank (SIB),Cities Bank, ABC Bank,Prime Bank, K-repbank, just to mention a few, offer salary advance facility.

Jubilant Kenya Ltd - Celebrate Financial Freedom

Monday, February 22, 2016

Jubilant kenya is a community micro-finance company financing Kenyans with the aim of achieving financial freedom to it's members who are mostly from the poor families.Members benefit from low interest loan facilities which are available at each stage a member reaches.

The loan products include Business loans ( mkopo nguzo, mkopo mlezi,mkopo fahari and biashara plus),Welfare loans ( mkopo angaza,jipambishie maisha,masomo loan,bimisha biashara) and tailor made loan facilities known as Special Needs Loans.

Contact Jubilant kenya Ltd on; 0707715757

Shield Finance - Payday Lending

Sunday, February 21, 2016

Shield finance Ltd is a credit micro lender with a strong bias in Payday lending. Shield is the finance institution giving out salary advances only as the only service.

Who can get a salary advance
Shield gives payday loans to full time permanent employees of companies they have partnership with.All companies from all sectors of the economy and based in kenya are eligible for a partnership.There's no minimum value that one can apply for.Its fast to apply and get a reply within less than five minutes.

Getting started
Confirm with your employer if they have a partnership with shield.
Get registered.
Now you can choose to apply for the salary advance via USSD or online on mobile or computer (Shield finance ).The website is still in beta.
After you apply the system will tell you how much salary advance you are approved for.
That's all.

Smartcash Ltd

Smartcash limited is a non deposit taking micro credit financial provider in kenya offering short term credit solutions to borrowers, both individuals and business entities.

Smartcash lenders provide the following loans;
Business loans -targeting already running business entities that wish to expand its services or goods.
Salary advance - Salaried individuals can ask for a salary advance from smartcash Ltd.
Bonga points secured loans - With safaricom bonga points, an individual can borrow a loan. The bonga points will then serve as security against the amount of money borrowed.
NSE shares secured loans - These are loans give out against Nairobi Stock Exchange shares that an individual or a business entity possesses.

Call +254733459850
Or visit Smartcash Ltd Offices in Thika at;
Clairburne Towers
3rd floor
Next to Safaricom
Opposite Aliza Plaza.

How To Apply For A Mobile Loan In Kenya.

I need a quick, soft or emergency loan direct into my mobile phone? I understand mobile loans, popularly mobiloans, are becoming extensively accessible from all major financial credit providers in kenya but do we all know how to apply for these credit services?

A mobile loan should mean a credit service that can be accessed over a mobile phone handset. All mobile handsets need a SIM card to fully operate. In kenya,mobile telecommunication service providers include Safaricom,Airtel, Yu, Orange and the new kid on the bloc, Equitel.With a SIM card installed in a mobile phone, you can access subscriber menu,dial numbers or codes or surf the internet (for 'internet access' enabled phones only).Using the above 'uses' one can access a loan.

Using subscriber menus
These are loans accessed by simple navigating to the subscriber menu on your mobile phone.
Go to safaricom menu.
Select mpesa.
Select M-shwari( for commercial bank of Africa customers) or M-kesho(for equity bank customers).
Select loan.
Select apply.

Go to equitel menu.
Select my money.
Select loans.
Select get loan.
Select eazzy loan.
Select account number.
Enter amount.

Go to orange menu.
Select orange money.
Select loan services.
Select Emergency loan.
Select Orange money account or my equity account for equity bank customers.

Unfortunately, Airtel and Yu do not offer loan services through the subscribers menu at the moment.

Using USSD codes or Short codes
These are loan services that can be accessed by dialling numbers in the format *NUMBERS#.
KCBMpesa-This service is available to safaricom mpesa customers. Dial *844# to access the loans.
Kopa chapaa-This service is available to Airtel money and Faulu microfinance customers. Dial *305#
Airtime Advances
For safaricom subscribers ;
Okoa bundles, dial *544#.Okoa jahazi, dial *131#.Okoa stima, dial *885#

Orange pewa ( for orange subscribers),dial *133#.
Airtel kopa credo (for Airtel subscribers),dial *221# .
Credo4yu (for Yu subscribers),dial *125#

Loans over the internet
These are loan services accessed over an internet enabled device for example a computer/ laptop, Tablet /Ipad and the popular Smartphones.Borrowers can visit the lenders various websites and apply for loans online or by downloading and installing loan applications in to the devices.See, mobile loan apps in kenya. All popular lenders have up and running websites with few running functional apps.Examples of banking applications include,M-coop cash, KCB- Mbenki,I&M app,Cfc stanbic app among others.Check your banking service providers for online banking services and apply for a loan.

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