Kenyans decry huge cost of lipa mdogo-mdogo:-

Je, huu ni ungwana?

Hizi simu za lipa mdogo-mdogo cost up to 3 times the actual price. A phone that costs 45,000 , one ends up paying upto 135,000 kes. Ndio unapigia mtu anasema alikuwa mteja juu simu yake ilifungwa after alishindwa kulipa the daily 113 bob that was required.

This is predatory lending /usury🤑. Charging such high interest on a loan/loan product that it becomes a burden or even impossible to pay it back 😭.

The same applies to motorbikes where one acquires a nduthi on loan . The original price of the motorbike 🛵 is 160,000 kes. but one ends up paying 375,000 kes.

Why do Kenyans keep falling for these baits from the loan sharks? Is it desperation?

One of the reasons why our Muslim brothers prosper business-wise is because of Sharia-lending, zero interest charged on loans. Check out the video below: 👇🏾 https://youtu.be/L_fvtZ6W-R...