Kenyan women have opened up on their out of control addiction to money lending applications. According to them its a trap they can’t help but fall into.
Some have loans running into Ksh 200,000 and they are mostly taken from money lending applications.
I have more than 100k. I am a single parent and I have a loan with Okash, Mshwari, Branch. If I do all the calculations I owe them over a 100K, I pay and borrow again and I do not know how to come out of it. It’s like a devils trap.
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Another woman said she was in the same trap adding that she could not come out of.
I am in the same situation, Since last year I did not have a job and the money i used to survive pon was loans. KCB -940,000, Mshwari-9000, Branch-30,000 and Tala-36,000. I used the money to pay rent and buy food. I do not know what to do. They call me so sometimes I block their numbers. I used to take a loan to pay another loan but it came to a point where I could not pay them anymore.
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Another woman added that she was introduced by a fellow woman adding that she also introduced others.
I have loans on all apps, I owe them 45,000 if you came together and paid for me I would still borrow because its an addiction. Till death do us part, we install and uninstall these applications.
