Ken receives an emergency call from his parents back in the village that they need sh.6,000 urgently. This puts him between a rock and a hard place because it is mid-month. He has no cash on him and he quickly makes calls to his four friends, asking ask for a bail out. He even promises a refund with interest if necessary at the end of the month.
One of his friends states he is dead broke while another states says that he is skint, having spent the last of his surplus on his wife who suddenly fell ill. Luckily, James has some sh.2,000 to spare and John can give sh.3,000 and this almost sorts out Ken's problem. He then gets the balance from his uncle who probably may not want it back because this is a family matter.
The reality is that over 70% of Kenyans have found themselves in such a situation. At one point or another, they have lent or borrowed money from a person within their circles be it friends or family. The area of money tends to be sensitive and more so because as the borrower, you do not want to be interrogated on its use. As the lender, you want keep track of your cash flow whether in or out. You want to be as efficient as a bank and perhaps do it in an automated fashion.
There's a new app available on Google Play store called Malipo Circles App which offers a platform for the lending and borrowing of money between friends. It fills this gap, allowing friends to support each other and ease communication in the borrowing process.
The Malipo Circles app enables the borrower to place their requests within his or her circle of friends who then support each other transparently since it keeps records. As the lender, the app helps you keep account of all the contributions made.
The Malipo Circles app allows one to have multiple authorization levels for cash out where you can access money as fast as you get it. This gives you access and freedom.Through your circle of friends, you have borrowers’ ratings, repayment schedules and thank you notes automatically done through the Malipo circle app.
It's really a great utility worth checking out.
