Skip to main content

Forget you owe me

It's yet another day, and you may be one of the few working hard, or the many relaxing and enjoying the fruits of labour (theirs or someone else's).

Then you get a call, or someone interrupts you. Things for the person are very thick, and they need an emergency loan. "See what you can do". Alternatively, they may be wanting to expand their business, which they copied from the one doing well across the street. After all, if its doing well across the street, or next door , it will do well here.

Some, like your neighbour, may be rude enough to knock at your door on Saturday morning, and after you take enough man hours to get to the door and respond, you find that they are sorry for waking you up. You then find out that they need some money to pay their house-help which they do not have, and you been very eager to get back to sleep, make the mistake of lending them double the money, change to be returned immediately and the rest by the end of the day.

As for your friend who needs some cash to celebrate Christmas before the delayed salary arrives, or is stuck at some border post after they overspend their meagre earnings and need to get back to Nairobi, you are kind and stupid enough to lend them.

As for the friend who needs to copy the business across the street, they go to the bank and borrow enough cash to buy a car and make a spirited attempt at copying the successful business. The bank happens not to trust their business sense, and asks them to provide tow guarantors, who the bank strictly vets. You end up being friendly enough to become a guarantor.

The biggest problem with helping people out when they are in the thick is that they forget that they owe you. It escapes me how somebody who was so broke could forget that you bailed them out of the problem. After making you alter your spending to save their skinny asses, they will get back to leading a normal life and leave you to absorb the cost.

Things can get worse. If you were stupid enough to become a guarantor, you may wake up one day to find the copycat business closed, all cleaned up, and you may also be rudely surprised to find that as of last evening, they no longer live in your town, and no one knows where they moved to.

As the bank raids your earnings to repay their loan, it may be an opportune time to think about that business and how you were the only customer.

At times, you wonder whether its actually beneficial to lend to friends who are quick at forgetting that they owe you. It may be better to refer them to professional lenders, aka Banks who know how to better deal with amnesia.

Maybe we can borrow a leaf from SavvyKenya on how to deal with difficult creditors via social media

Comments

Popular posts from this blog

Beers in Kenya: A sober opinion

I have had a short beer swigging stint in my life. It has however been long enough for me to share my opinions of Kenyan beer. Interestingly, over the course of sharing such opinions with other drunkards connoisseurs,  I have found that we all have different views as to what beer is the best, which one makes you too drunk, or which one gives a free,  extra hangover for every hangover you get from it.
For starters, like everyone else, I discovered that beer isn’t as sweet as it looks like in those adverts that show golden barley swaying in breezes,  happy men smiling and toasting chilled, foaming glasses of beer as a deep voice does some narration in the background.
Beer is bitter! Now, it turns out beer is intentionally made bitter. See,  beer shares the same ingredients as bread. The major difference is that bread isn't fermented. Bread is sweet, so why isn't beer sweet?

How much Nairobi Residents Pay in Rent

In my last post, I explained how difficult for people looking for housing in Nairobi. The main challenge is lack of information. On this front, I began a project that will collect some information, which will provide some start for those looking for housing in different areas in the city.

In the last one month, 33 people have given their responses.




Interesting enough, majority of the respondents, 16 to be exact, live in 2 bedrooms. This may mean that either 2 bedrooms are the most popular rentals in the city, or the most available. Only one way to find out - if you live in a 2 bedroom rental, here’s another survey.

10 of those who filled in the survey live in self contained 1 bedrooms.

5 people have 3 bedrooms, including 2 in Kikuyu, 1 in Ngong and Lower Kabete each, and another around Langata/National Park.

1 respondent has a 4 bedroom, while another one has a self contained bedsitter.
Pricing




Turning to pricing, the price of 1 bedrooms ranges from Kshs. 10,000 in Rongai to Kshs…

The bitter story of the downfall of Mumias Sugar company

Have you heard the bitter story of Mumias Sugar?

Regarded by many as Kenya's most successful sugar miller, Mumias Sugar Company was a disaster waiting to happen.

Many pointed out how Mumias Sugar Company was a fortress in the wreck that is Kenya's sugar industry, only unaware that it was just a matter of time. As the old wise men said, "Ukiona cha mwenzako cha nyolewa, tia chako maji".

The proverb means that if you see your neighbour's head getting shaved, your head will soon be undergoing the same - you'd therefore better wet your head for a smoother shave, otherwise you will be forced to undergo a painful, dry, shave.

But what ails Kenya's sugar industry?

The Kenya sugar industry is under legal siege. The typical Kenyan issue of coming up with laws to tackle a problem is evident here.

Many of Kenya's sugar factories are owned by the government, and have slowly declined under mismanagement and corruption. The appointing of political cronies and trib…

Kenyan products: The art of punishing your consumer

Peanut butter used to taste so good, but you could not afford it on the pocket money that you got back in school. A few years later, you have your first real job and your first "disposable" income. You buy your first real tub of peanut butter , probably the first in your life. You feel proud that Dominion peanut butter is manufactured in Ruiru, a town that you visited in your campus days to withdraw your pocket money , it was the nearest bank ATM to your campus. This was before Equity bank became a mainstream bank and decided to open an ATM in your campus, and before M-Pesa meant that you could withdraw your pocket money next to the kibanda  where you had your one meal of the day.

The peanut butter though is a far cry form the peanut butter you remember. It does not taste that good, and turns into some sort of stone barely before you are a third way through the jar. The stone is not a kind that you learned about in your Geography classes though.

Dejectedly, you decide not …

Why Kenyans love Kigali (Part 2)

See part 1 of why Kenyans Love Kigali, which this articl is a continuation.

In my previous post on why Kenyans love Kigali, or Rwanda for that matter, I had mentioned on the security of the city. The post however widely dealt with the feel and appearance of the city, and a little bit of the country.

Both of my visits to Kigali have been through the airport, though you may opt for a more adventurous journey by road. Getting to Kigali then required a Kenyan passport, but no visa. Now, all you need to go through both Uganda and Rwandan borders are a National Identity Card.

For travel by air, Rwandair is a cheaper option for Kenyans as compared to our national flag carrier, Kenya Airways. Ironically, most other Africans get to Kigali via Kenya Airways, thought most Kenyans will opt for the cheaper Rwandair. The flights are comfortable and the service on board the 1 hour 15 minutes flight is great.

Depending on the weather, your landing can be quite full of turbulence in Kigali. The airpor…