With all the ongoing corruption and government scandals in the country, Kenya is no doubt affirming that it is a man eat man society.
And here’s the kicker:
With all the billions of shillings being lost to graft, cronies are now looking for new ways to fill the gaping holes and balance the books.
We’ve seen one of the ways they intend to do this is by hunting down the same youth they promise to uplift by harassing them to pay their HELB loans ASAP.
That’s not all:
They also increased tax levies on the common
Now, the government is looking to introduce the Y-Mobile Loan app to lend youths loans.
Mind you, these are the same youths that currently have the highest unemployment rate in East Africa.
The same youths that have distinguished degrees but are reduced to selling maize on the roadside.
Dealing with the same government that has lost billions of shillings to corruption.
Which begs the question:
Why would you be willing to give someone a loan knowing full well that they won’t be able to pay it back?
Here’s my two cents:
It’s a subtle form of modern-day slavery.
The interest rates will probably start off small to attract desperate Kenyans, then go through the roof once millions of individuals become dependent.
And maybe…just maybe, the defaulters may be subjected to casual labor for international investors looking for manual contractors at a staggeringly low price.
It’s a win-win situation for the government and the sly international investors.
Remember though, these are my two cents.
Nonetheless, if you plan on taking a loan, make sure you are of sound mind financially.
By this, I mean you’re not just taking loans for daily expenditure or for entertainment, but for future investments as well.