• It was awarded as a market leader in the car financing segment and its efforts to keep lending amidst the unprecedented Covid-19 pandemic.
• The money lending company offered customers up to 100 per cent waivers on default charges.
Mwananchi Credit has for the second year running ranked the best logbook financier in the country.
The emergency loans provider was among the companies recognised this year at the Automotive Industry Excellence Awards, which celebrate exemplary service to consumers.
It was awarded as a market leader in the car financing segment and its efforts to keep lending amidst the unprecedented Covid-19 pandemic disruption of people’s financial lives.
The company topped in the same category last year and has further fine-tuned its logbook loans not only to reach a wider market but also made repayments easier.
Dennis Mombo, the company’s Executive Director, attributed the Best Logbook Financier 2020 award to a commitment by its employees who, he noted, ‘went above and beyond’ to make sure clients get emergency loans on time
“Our interest rates on car loans start from 1.5 per cent and vary with every vehicle, considering the year of manufacture and the repayment period of the loan applied,” he said.
Mwananchi Credit’s car loan requirements include original car or motorbike logbook, KRA PIN, National ID, two passport size photos, six months bank statement, and comprehensive insurance certificate cover.
Mombo praised Kenyans’ resilience during the Covid-19 outbreak, saying they have displayed a strong spirit in fighting the pandemic and abiding by the Ministry of Health guidelines and protocols.
To cushion Kenyans from Covid-19 effects, Mombo says Mwananchi Credit offered customers up to 100 per cent waivers on default charges.
“We are affected by the pandemic just like anyone else and therefore punishing borrowers for an unprecedented virus would have been wrong and unfair,” he said. “We lived up to our slogan of investor in people.”