By Eddah Waithaka
Mogo, East Africa’s top asset financier, is shaking up Kenya’s logbook loan market with its new ‘Best Price Guarantee’ campaign, promising borrowers better rates and faster service than competitors.
The move cements Mogo’s reputation as a customer-first lender, challenging rivals known for hidden fees and punishing interest rates.
As a Central Bank of Kenya (CBK)-licensed non-deposit-taking lender, Mogo uses cutting-edge tech to speed up approvals, slash paperwork, and deliver funds in hours—not days.
Customers need just a logbook, national ID, and KRA PIN to qualify, with no surprise charges or complex hurdles. “We are putting Kenyans first,” said Branton Mutea, Mogo Kenya’s Deputy Country Manager.
Read More On: https://africawatchnews.co.ke/chocolate-empire-cast-connects-with-omari-hardwick-at-exclusive-showmax-event-in-kenya/
“Our Best Price Guarantee means if you compare the same loan amount and term elsewhere, you’ll pay less with Mogo—as long as you stick to your repayment plan. No tricks, just transparency.”
Why Logbook Loans Are Booming
With more Kenyans turning to quick financing for emergencies or business growth, Mogo’s digital-first approach is gaining traction. Borrowers can apply, sign contracts, and get cash online—no branch visits needed.
The company also fully complies with CBK regulations, including Credit Reference Bureau (CRB) reporting, to keep lending fair and secure.
Traditional Lenders Lose Ground
New data shows a major shift in Kenya’s financial sector. The 2023 Kenya Financial Sector Stability Report reveals microfinance banks are struggling against agile lenders like Mogo.
Meanwhile, the Kenya Bankers Association (KBA) reported an 8.8% drop in microfinance bank assets in 2023, the fourth straight year of decline.
Mogo’s edge? Lower rates, faster service, and a nationwide branch network for in-person support. As Kenyans ditch slow, expensive loans, Mogo’s tech-driven model is setting a new standard.
Bottom Line for logbook loans, Mogo vows you won’t find a better deal. And with competitors slipping, more borrowers may soon agree.
Read More Stories At : https://africawatchnews.co.ke/
