Audio By Vocalize Most Savings and Credit Cooperative Organisations (Saccos) in Kenya are sitting on the exact weapon that could kill the banks, and they’re using it to lose slowly. Think about what a Sacco holds. A huge base of loyal members who save month after month out of belonging, not the best rate. That is the cheapest money in the country. Banks spend fortunes trying to buy the trust a Sacco is simply given at birth. Most Saccos waste that gift. That advantage is already leaking, and three forces are closing in at once. Banks went digital and never…
Author: By James Mungai
Audio By Vocalize The power of patience, psychology and strategy in debt recovery [Photo: iStock] There’s one case I’ll never forget, a Business-to-Consumer (B2C) client who owed a significant amount, but every step felt like a chess match. From day one, the journey was drenched in delays, excuses, and what I like to call the “professional ping-pong move”. At first, the client was polite: “I will pay tomorrow.” Tomorrow came and passed. Nothing. Then came Stage Two: The Disappearing Act. Calls went unanswered. Messages blue-ticked with no response. Every time I thought I had reached him, he magically had “another…