Story by Porcupine Wanjekeche.
After tough economic tides at the tail end of last year running into the New Year 2020, many Kenyans are thronging into financial institutions for economic salvage.
This comes at the backdrop of disturbing reports by financial experts of a incessant downward economic trend running into the year 2020.
Newsflash.co.ke this week established a long queue of loan applicants at Mwananchi credit branches, a leading lending financial institution.
Mwananchi Credit, a contemporary financial institution offering Credit and other financial services has changed the investment market with its malleable and tailor made loan and other money related services.
“It is indeed a tough economic time being witnessed in the country owing to the number of loan applicants we are receiving this first week of January. That is an indicator of a tough economic time facing the country”, Opined the Chief Executive, Mr. Denis Mombo.
He said that the number of loan applicants recorded early this this year is irresistible signaling a hard-hitting economic times that requires a quick fix.
He said that most applicants coming to their branches for swift loans are parents looking for school fees, small business operators and the general public.
“We are ensuring that we serve the clients as quick as possible owing to their various needs with our team working on a record three hours and below,” said Mombo.
Due to overwhelming public demand the institution has expanded its branches to other parts of the country with the coastal city of Mombasa being the latest in line.
“It had been an issue of consideration in the past few months, that the only port city and commercial center like Mombasa warrants a completely different branch instead of just one solitary department in the Head Office,” says Executive director Dennis Mombo.
He added that apart from the new Mombasa office, the company intends to open six new offices in various Kenyan towns in the next three months in a bid to push services close to the people.
He said that their goal is to be the top rank micro lender in the country.
Mwananchi Credit Limited is native company that has for the past nine years been known to offer loan products ranging from Logbook loans, title deed loans, civil servant loans and many more.
Mwananchi credit is a leader in the industry after bagging several awards last year.
In the automotive sector they were three months ago awarded as “the best lending only Microfinance Company in Logbook loans “whereas in the real estate sector, they were awarded the best Credit Institution in Land/Property Finance (Title Based Finance).
Mwananchi Credit Limited was incorporated as a private limited company under the Companies Act (Cap 486) of the Laws of Kenya. It initially started operations under the names Mwananchi Microlink Ltd which was incorporated on 15th April 2010.