Mogo doubles bank borrowings to Sh1.6bn on Ecobank, I&M loans
The expanded funding base gives Mogo more resources to finance customers buying motorcycles...
A boda boda rider ferries a passenger past closed Mogo Boda Boda seller outlet in Kolen, Nakuru Town.
Asset financing company Mogo Kenya has doubled its borrowing from local banks to Sh1.6 billion, deepening its reliance on domestic lenders and institutional investors to finance its rapidly expanding consumer loans portfolio.
Mogo increased its credit facilities at I&M Bank and Ecobank Kenya, raising loans from local lenders from the previous Sh800 million as total local funding crossed Sh9 billion, including inflows from private credit investors.
CAK mandated Mogo to cease misleading practices and resolve outstanding complaints.
A proposal by Kisumu west MP Rosa Buyu seeks to protect borrowers from hidden charges.
Knut says future school should encourage collaboration among teachers.
From January next year, learners in Grade One, Two and Three will receive the books to replace the ones that are worn out.
The Embassy in Bern, the Swiss political capital, was opened in April 2020.
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