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Mobile Lending; Relief or Debt Trap for Borrowers?

Hosted by the Consul of the Nairobi Professional Networking Group
Event Cover Photo
Took place 1 month ago
Wed 26 Sep 17:30 - 20:30

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MOBILE LENDING:

Bitange Ndemo & 3 CEOs on Mobile Lending; Relief or Debt Trap for Borrowers?
Look out for a surprise panelist….

Have Kenyans become prisoners of mobile lending offers? Do we even fully understand the implication regarding interest payment?

Do some Apps border on Pyramid Schemes? i.e., pay to register and earn a commission when you recruit others?

What’s the view on Future Payroll Lending which often leads borrowers to keep borrowing to pay previous loans?

Actual Interest rates; how high can they go per month 14%, 25%.....103%? These are real rates by some Apps.

Are all lenders clearly explaining the terms? E.g. Loans bundled with other products that “Wanjiku” has to unknowingly pay for?

To win a gift hamper, five random people will win if they give me the best Individual Mission Statement!!! E.g. my name is Irene Gathiaka and I……….. Punchy, Short and describes your mission best. Good luck!

Our expert panelists are ready so bring all the tough questions. I look forward to hosting you all.

Dr. Bitange Ndemo: He is an ICT Champion, Academician, and a Newspaper Columnists with the Kenyan Newspapers Daily Nation and its sister publication, Business Daily and serves currently as an Associate Professor of Entrepreneurship at the University of Nairobi’s Business School where he teaches and researches on entrepreneurship and research methods with most of his research work being focused on ICT and small and medium enterprises and their influence on economic development in Kenya. He is the immediate former Permanent Secretary in the Ministry of Information and Communication where he served from Protected content Protected content the former Kenyan president Mwai Kibaki and was awarded the prestigious presidential Chief of the Burning Spear of Kenya (CBS) award for his distinguished services in Protected content . Ndemo is regarded as one of the key people who oversaw the transformation in the Kenyan ICT Sector while the Permanent Secretary through various ICT policies and projects such as launching of undersea submarine cables, the mushrooming of business process outsourcing industry, the dramatic reduction in mobile termination rates (MTRs), initiating of the Kenya Open Data and the growth of tech hubs such as iHub and mLab in Kenya through effective regulation. Prof. Ndemo holds a PhD in Industrial Economics from the University of Sheffield in the UK , an MBA from the University of St. Thomas (Minnesota) in the USA and bachelor’s degree in Finance from the University of Minnesota. He is the immediate past Honorary Chair of the Alliance for Affordable Internet (A4AI) and an Advisor to the Better than Cash Alliance, a global initiative to digitize payments.

Mr. Isaac Awuondo:
Isaac Awuondo holds a Bachelor of Commerce (Accounting and Finance) degree from the University of Nairobi. He is a member of the Institute of Chartered Accountants in England and Wales (ACA) and member of the Institute of Certified Public Accountants of Kenya (CPA K). Isaac has over 32 year’s experience in the finance and banking sectors spanning Europe and Eastern Africa having previously worked with BDO Binder Hamlyn, Nation Media Group and Standard Chartered Bank in various senior executive roles. He is chairman of the Financial Sector Board of KEPSA, chairman of the Council of Riara University and director of Bata Shoes Company Kenya Limited and Nairobi Java House Limited. He is also chairman of the Kenya Conservatoire of Music and the Kenya Hospital Association (Nairobi Hospital) and trustee of the Rhino Trust and Zawadi Africa Education Fund.

John Gachora:
Mr. Gachora is the Group Managing Director of NIC Group PLC. He joined NIC Group in Protected content . He joined NIC Group from Barclays Africa where he had been Managing Director and Head of Corporate & Investment Banking. In his role he was responsible for Barclays Corporate and Investment Banking activities across 12 African countries (excl. South Africa). Prior to this, he held several executive positions at Absa Bank in South Africa, including CEO of Absa Africa and Head of Investment Banking, Sub Saharan Africa. Before moving to South Africa, he spent close to 15 years in the United States where he held several positions at both Bank of America and Credit Suisse First Boston. While at Bank of America he rose through the ranks to become a Managing Director and Head of the Financial Engineering team. Mr. Gachora holds a Master’s Degree in Electrical Engineering and Computer Science from the Massachusetts Institute of Technology (MIT), USA as well as an MBA from the Wharton School, University of Pennsylvania, USA.

Hello everyone,

We will also have experts on the topic including executives from TALA and BRANCH mobile lending Apps.

Expect a NO HOLDS BARRED debate!! see a snippet of the panel at it, on the link below. More details to follow.

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Best,

Irene