"The current state of Economy Financing is a very critical arm for Business People//Mr. Ian Nyandiko

Yes, yes, yes. It's still a good morning right here on Y24. Remember this is where we get to talk to you but to ensure that you're learning something after every show. Okay. I go by the name Tunifa just in case. Remember you can interact with us on our social media pages on Instagram Tik Tok or at Y254 on Instagram Tik Tok on X like talk to us. Tell us where you're watching us from. We want to know. And on that note yeah we have to you know we have to talk about money. Elisa was here and uh she was talking about the insurance um policy I mean how to take insurance uh what do you need to know the dos and don'ts of the insurance so and me I'm here right now to talk about grassroots economic empowerments okay we are here because we I mean we are we want to talk to you right now so yeah if you're at home buckle up buckle up take your notebook take your take your phone. Be ready because it's going to be a good session because I'm not alone. Okay, as you can see, I cannot handle that alone. That conversation is a serious conversation. Conversation that involves money, we got to look for the experts who are who knows, you know, what to do with money and how can you get money and how can you utilize your money? Okay. And since grassroot is all about empowering or rather giving tools to those people at the bottom to ensure that they are they stop thriving to I mean they stop surviving and they start thriving. We decided to look for someone who is actually dealing with giving people or rather helping people grow and he is none other than Ian Yadiko. Yes. I don't know why am I finding it hard to pronounce his name. Okay. Ian Yadiko who has over 10 years of experience okay in lending okay helping business grow financing okay and is working at GA credit. Just in case if you think I'm lying let me allow him to introduce himself so that you can get to hear from him. Welcome to Y Morning Ian. >> H thank you. Thank you. Thank you for the hosting me today and I'm really excited to be here uh to be able to discuss matters empowerment and how we can be able to make impact to the people in the grassroots. >> Yeah. >> Um so my name is Yan Yandiko. I'm a financial uh consultant if I may say so. >> I've been uh in the industry for 10 years, 10 years now. >> Wow. And um I started off uh directly dealing with customers. I think uh it has been able to give me opportunity to be able to understand uh the needs of the customers. What is it that the customer truly needs especially when it comes to uh matters financing. Yeah, >> I think progressively over the years uh we've been able to or rather I've been able to uh proceed and uh lead uh sales teams and business development teams uh countrywide uh whereby I currently serve as a country uh relationship manager at Tanga Credit. >> Wow. So it has been quite an interesting journey and um I'm happy to be here today >> just to be able to see how best we can be able to uh empower >> the people in the grassroots >> 10 years >> yes 10 years >> when you look at him you can't even tell that you can't even say that he has been working for like 10 years of experience you know I was telling him that tell tell us the truth is it like maybe three years 10 years you look like a third year second Yeah, you look really young. [laughter] >> I can say it's it's the grace of God and um of course being happy >> and of course keeping fit >> and money is good guys. Money is good and that's why he's here to tell us how to get that money so that we can remain young like him because there's no way. Okay. And just as you have heard, he has had like 10 years of experience, not one, not two, not three, but 10 good years of experience of dealing with uh people uh at the grassroots or interacting with people who are doing business. Okay. So if I may ask like how do you think I mean how is the state of like the grassroots economy right now in Kenya from your side because you're interacting with citizens right now, you're interacting with these business people. So how can you say like how is the state of like the business in Kenya right now? >> Um uh first of all I must say that um Kenyans are very enterprising and um I think this is something that is known all across the globe. >> Yeah. >> Uh Kenyans are really really enterprising and they go out of their way uh to be able to make that extra coin. >> Yeah. And um there's a lot of opportunities that um uh lies ahead of us especially when you look in the space of financing. >> We have a lot of Kenyans coming up with businesses. We have people who are engaging in hassles uh that that is an informal sector and we have an opportunity to be able to come in and find a way how we can be able to help uh these informal businesses grow to to sustainable businesses. Okay. So, >> we have uh quite a lot of people who are investing in small businesses and there is a gap that we have noted and um this is something that we really need to look forward so that we can be able to fill in that gap. >> Yeah. >> And as as credit we have come up with products that can be able to uh fill in that gap. We have products like asset financing. What can you be able to do? what kind of assets can you be able to put into the hands of these business people so that we can be able to uh make them more productive in their businesses. So, a lot of opportunities and um it's it's it's a positive thing to be able to note that um Kenyans are really enterprising and what they really need is the right kind of financing and this is where credit comes in. >> Wow. So, you feel like the biggest struggle that they're facing is like the financing part. >> Yes. So that is the biggest struggle. So apart from that struggle now other struggles that maybe you have encountered or rather they have they have shared with you that they're encountering as they they're doing their daily business maybe. >> Okay. So um I can say um mo most most businesses are operating and um they lack financing. >> Yeah. And part of um the requirements for you to unlock financing in um the current Kenyan banking system or the financing system is for you to be able to have a collateral. >> Okay. So most businesses are suffering on that end. They do not have uh collateral or something that they can be able to use as security to uh secure financing uh from a lender or a bank. So that is something that um we need to look at financials in a way that how can we be able to help uh these people unlock financing uh by giving them those assets >> as well. We can also look at another angle. How can we be able to give these business people financing without necessarily having to look at uh the collaterals? We have something called uh the alternative uh data. >> Okay. So there are certain metrices that we can be able to look at. Okay. Apart from the traditional uh collaterals that uh the banking system has been looking for the longest time like land, motor vehicles, what else can you be able to look at to be able to qualify uh these business people for financing. Um I'm talking about um financial cash flows. Okay. Nowadays the Empessa system has become so big we can even compare it to the banking system. How can we be able to use the empessa transactions to be able to gauge whether a customer can qualify for a loan or not? How can we use the business cash flows for these particular uh business people to gauge uh their financial capability as well their repayment history if at all they have been taking uh loans from other lenders? How can we uh assess uh their ability or rather their repayment history with those other lenders or the previous loan facilities that they have acquired just to see their uh eligibility uh for coll for financing rather than just looking at um a collateral as a means of unlocking uh financing. >> Wow, that's beautiful. So uh actually they I thought maybe with the current uh or maybe social media they that will also be an issue but since it's just financing that means like Kenya we are really smart if we were just like they were able to cope with the social media market immediately and that was not an issue to them then uh I think we are good to go but is it like do you think like maybe social media is kind of like maybe affecting them to some extent or that has not like come to your attention? you who is dealing with them for at the ground level. >> Um when I talk about social media, I think social media has become um a very important tool especially for uh people who are coming up with businesses. Social media plays a very big and pivotal role when um you you want to scale your business. And right now we are seeing the young generation that is the millennials sorry the gen z's okay and the gen alphas they're really um all over the social media just to promote um their businesses okay right now all corporates they're in social media okay right now um for you to be able to engage and uh on board customers you really need to be in the social media space and that the engagements that you have there that is what will be able to um gain the trust trust of the customers and that is one of the easiest way for you to be able to um on board customers. >> Okay. Yeah. >> And by the way, do you do you know that there are those people who are just like focusing like we they no longer have the physical shops or rather physical business that you can just walk in but they just selling things on social media. Let's say Tik Tok let's say Instagram like Instagram live Instagram I mean Tik Tok live. Do you kind of do you also deal with those people? Do you kind of like interact with them? Do they come to your offices maybe to look for loan and do you help them? Do you associate with them like you don't have a physical shop so we can't deal with you you as credit maybe? >> Okay. Um okay for that one we'll treat it differently. Yeah. >> Um because currently as G credit we are currently looking to um finance customers using assets. So what we trying to look at is how can you be able to place assets into the hands of business people. So even if you're using social media uh to market your business. >> Okay. So we'll um want to you to be able to to own an asset. Okay. And an asset in this sense we are looking forward for these asset to be able to generate more income for you as a person. >> Okay. So currently uh the line of businesses that we are currently looking at is um these businesses that currently use assets to generate more income to create more employment and uh furthermore to be able to build wealth. >> Case for example if um for example we have u these informal sectors like um the border border of course we have the mat sector we have the Uber which has become very prevalent. Okay. uh we find that uh there are people who um do these uh driving uh job on behalf of or or rather they are hired to be able to drive these uh motorbikes, these uh Ubers. Okay, so we want to empower these people to ensure that they are also able to own their own assets. Okay, which will further enable them generate more income and with that you will find that there will be a multiplier effect at the end of it. Okay, this person will at the end of it be able to own this asset. And when he owns this asset, of course, the income that has been generated all this while will also enable him build more assets. If this is a border guy, if this is an Uber guy, once he's able to repay back his loan facility, he's able also to purchase another asset. Of course, okay. This in turn also will um mean another person is employed >> as a driver. >> Yeah. You see? >> Yeah. It also means a mechanic is employed somewhere else, okay, to service that vehicle >> in case it breaks down. A mechanic will come in and of course repair that vehicle. Okay. So, what we are looking at is how can you be able to impact the community at large. >> Okay. >> Okay. Not necessarily financing a particular individual with an asset, but we also want to measure the impact that we have in the community. that is through job creation, employment that is and also income generation for businesses you know and also building wealth. >> So apart from giving like loan cuz I get like you dealing with um credits is mainly giving loans to people. So apart from giving loans now to this business people, how do you empower the society? Maybe how do you empower these business people to to grow the grassroots from the grassroots level now? How do you empower them to grow as a gal credit? >> Okay. So um uh currently we are running um campaigns. Yeah, >> of course we um we normally do a lot of um financial literacy programs just to be able to enlighten uh business people on how they can be able to scale up their businesses. And um if at all uh you're not following our credit, you can probably follow us on our socials. I think we are across all social media platforms. And um I think if you check very clearly we are able to also to give more insights and educate our customers as to the most prudent ways of uh growing their businesses. Of course we also have um uh entrepreneurs who are taking loan facilities elsewhere. What is the best way to be able to uh run your business so that also you are able to manage uh the operating expenses as well as uh paying uh the loan facilities that are coming up due. Okay. So, number one, we are able to run educational programs. We are able to give uh information that will also enlighten on the best way that they can scale their businesses. Of course, number two, we we are coming up with very exciting products so that we are also able to include uh the informal sectors. >> Yeah. >> Uh we have quite a number of products currently and uh some are secured uh some are not. So currently we are looking forward to be able to um broaden um the the kind of customer reach that we currently have. We want to include all the customer bases that we currently have um in Kenya. >> Wow. Yeah, >> that's beautiful. Now apart from like maybe dealing with business people like I get it like it's something that is being run like countrywide. So, do you just deal with just business people or what other type of people do you guys deal with at maybe your your company maybe? Yeah. >> Okay. Um, currently we we we are dealing with business people >> only. >> Yeah, we deal with business people. I can't say only business people as long as um you are able to uh prove that um you have something going on. Of course we also deal with uh the corporate people, people who are employed. >> We deal of course as you mentioned the business people. We have the farmers. We have the people in the transport sector. You know we also have um we also have uh study abroad uh loan facilities. We are able to facilitate people who want to go ahead and study abroad. Okay. So we are not only dealing with business people but we also have facilities that can be able to take care for in other segments of um of of of across the divide of the entrepreneurs. >> Okay. >> Yeah. >> So messia it's not just the business people who do take loans even you with the idea that you have maybe you're in corporate and you want to take loan for something. So you not necessarily you must you not you must not necessarily have a business for you to take the loan. So I want to like maybe ask you because you're one of the people who are giving loans in this country. Uh what are those things that you look for you as um the one who is giving out the loan? What are the criterias or the things that you look for before giving someone the loan? >> Okay. Uh so of course uh number one um we look at uh the eligibility. >> Yeah. Um right now for you to be able to access any form of financing in Kenya, of course you have to uh be eligible and there are certain metrices um that are looked at if um we are to assume that you qualify um for an asset finance or whatever facility that may be. >> Okay. So number one is eligibility and eligibility cuts across a lot of things. Okay. Number one, um, how is your credit score looking like? Okay. And, uh, with credit score, I think it it touches on how do you repay your loan facilities. So, if you are a business person and you want to, uh, probably go ahead and seek for financing, not only in cow credit, I know also through other uh, financials. They are very very uh, interested in how your credit score looks like. Okay. So your credit score is very important and this is something that probably I'd want to enlighten uh Kenyans. Be very cautious with um probably how you repay your loan facilities because these might have a ripple effect. >> Okay. >> In your future uh lending or probably if you're looking to uh borrow uh money uh in the future because right now Kenyan uh lenders are very strict. >> Okay. So how you repay your loan facilities really matters. If probably you're not so good in repaying your loan facilities, your credit score will be affected, which means the next financial will not be comfortable to give you any form of financing. >> Yeah. >> Okay. Number two, um we look at um there's the aspect of collateral. Okay. So, of course, not all facilities will require collateral. Yeah. But of course depending on the kind of facilities that um uh an entrepreneur is looking for we might require them to present a collateral. Okay. So collateral might range um it's quite a range uh it's a big uh array of collaterals probably that uh financials might consider but from credit we look at um motor vehicles. Somebody might pledge a motor vehicle of course business assets. Okay, probably if um you're in the business of importing uh goods let's say from China, you can use uh the same goods as collateral uh for your loan facilities. We can facilitate if probably you're importing um beauty products from China. Okay, we can facilitate we can pay China um the goods for we can facilitate the payments of the goods in China they arrive in the country. Those goods will be used as security for your loan. somebody is probably looking to uh venture into the transport business, they will use uh the motor vehicle as security for the loan. Okay, so collateral is number two. >> Okay, number three of course we also check um uh the cash flows. Okay, how good are your cash flows? And by cash flows I mean um how how are you able to um uh show that you are able to repay your loan facilities. Okay. >> Uh in business they say cash flow is king. >> Okay. So if if if at all you cannot prove that you have sufficient cash flows now the financial will ask how can you be able to repay loan facilities. Okay. So cash flow is a very important element when um we are praising your eligibility for a loan facility. Okay. So I think those are the three key areas probably that we might look at. >> Wow. If you to qualify for loan [laughter] >> if you went for a loan >> I mean probably you didn't like fit in those three criter but you know there are also the myth and misconceptions about the loan thing. I think you you've heard people saying that there's nothing good you'll do. I mean with it maybe. Have you ever heard about that? >> Yeah. Yeah. I think uh [laughter] I I'd like to say it's a it's a bit subjective. >> Yeah. >> Because some people fear loans, some people some people love loans because they they've been able to see the benefits of loans. But um from my own perspective, I think um right now with the current state of the economy, >> yeah, >> I think financial financing is a very critical um uh arm. >> Yeah. uh for business people for you to be able to grow your business, you need to work closely with uh the financials and and um and this will also enable you because um you find that right now the economy is not doing very well >> and we are dealing with a lot of issues. I think right now there's no money enough circulation of money in the economy. So you find that you business people are really struggling with a lot of bills you know so you're struggling between paying for operating expenses paying for rent paying employee salaries okay so the money that is left to be able to run the business is close to zero so most what most business people do they go and seek for more financing from the bank >> okay as long as you can be able to repay the the money to the financial I think finance loans should not be uh really something to worry about [laughter] as long as as long as you can be able to afford it. >> So >> I think that's the most important thing. So in short like before you go for that loan ensure that you have like a clear plan of how you're going to use the money from the first coin to the last word because I think sometimes you get the money and you decide to like uh you know invest in that trip that you have been looking forward to for so long and you forget that it was mainly for something that can generate can still generate income and by on that note let me ask you why is it that why do you think that Kenyans or rather their people who are working so hard, so hard and they are putting in so much effort, but they're still remaining to be like grassroot business people or at the grassroot level like growth. What is it that maybe you think they're not doing right because I may try the business for like let's say five good years but growth like there's zero growth and may try the agri farming for maybe for over a decade but still there's no growth. What do you think maybe Kenyans are going wrong when it comes to growing their business? Because you have dealt with with them for 10 years, you know, growing business, business development. So, what do you think maybe is the biggest mistake that we are doing that is making us >> okay >> stagnant? Yeah, a good question. Um, I think the most uh important thing >> and um I think I've mentioned it earlier. Yeah, >> most business people uh lack access to financing and if if if at all you find that an informal business has stagnated for the longest time. >> Yeah. >> What that business needs is injection of capital. >> Okay. For a business to be able now to start operating on a different level, it means now they need uh injection of capital and that's where asset financing comes in. Okay. most informal uh business uh probably they do not they are not able to access this financing from the banks or financials like credit. Yeah. >> Okay. So um you find that most of those businesses they lack collaterals because financials nowadays they want collaterals for them to be able to give you financing. Okay. So that's why and and and I think that forms part of our discussion today. How can we be able to uh use asset financing as a tool to enable businesses to scale up? >> Okay, for those businesses that have been stuck in the grassroots for the longest time, how can you be able to facilitate them so that they are able now to use these assets as a productive uh tool of trade >> and at credits like what are you doing now to ensure that these people don't remain at the grassroot level? >> Okay. Now um we have a various segment of customers as I've mentioned. >> Yeah. >> Okay. Now if you look at um probably like the farmers >> okay >> we have farmers who are really struggling when it comes to um delivering uh the the the demands of their business. And you realize for example a farmer who's doing dairy farming okay he needs to meet the demands of transport okay how does this uh milk be transported from the farm >> okay probably to to to the milk processing plant okay the farmer does not have the requisite tools to be able to facilitate this >> so the process of hiring a vehicle to transport this milk to the processing plant consumes let's 30% or 40% of the income that this farmer is generating. >> Yeah. >> Okay. So, how can you be able to free this 30%. >> Okay. Now, we we we we now come in as financials probably like G credit. We are able now to offer and finance this um farmer to be able probably to buy let's say like a pickup that will enable him transport this milk to uh the milk processing plant. So, what does that mean? the 30% that he has been paying for this vehicle each and every month probably is now uh probably channeled to the bank and probably um instead of paying uh the let's say like 30,000 or 40,000 he pays 20,000 the rest of the 20,000 he gets to keep >> and at the end of it this motor vehicle will belong to the farmer. >> Yeah. >> And when he does it consistently he will be able now to purchase another vehicle. >> Okay. So in there will be that multiplier effect >> there'll be more income generated the business will grow I think you talked about how how is it that most businesses are stuck in the same level >> okay so once you are able to um assist the customer to have a productive asset okay that's how now the business grows >> it will produce another asset he will be able to purchase another vehicle with time once he completes paying the loan he will now be able to have impetus also So to purchase another vehicle, employment is created. Okay. The business grows, you know. So that's how we are able to turn regular hustles into sustainable businesses. >> And do you also like teach them how to save or it's just like you giving them the money and asking them to return the the the loan? Do do you have like the those like lessons whereby they get to learn how to save or how to spend the the money now they they are earning or it's just like the one of providing for the farmer do do you have maybe those circles that you have partnered with so that maybe they can be able to save or even at credit can they be able to save or you think maybe it's a niche that need to be exploited. >> Okay. Um okay currently now credit we do not uh allow okay we are currently not uh doing deposits cuz we are not a deposit taking institution so we are on we are credit only okay so what we can be able to do to uh at least uh sensitize uh the entrepreneurs with saving as I've mentioned earlier is uh just financial literacy um I think as I've mentioned through our social media platforms I think we also also have marketing drives every weekend. I think we normally have marketing drives. I think through those forums we are able to interact with customers also and be able to advise them the best way that they can be able also to um save for rainy day. >> Wow. Yeah. But I realized that a lot of you guys who are giving us loans even the interest itself it's kind of like do you get that a lot like people complaining that the interest is kind of like I feel like maybe the the the ones who are giving us loans sometimes they they don't want us to actually grow. They're just looking for how you going to get my money back. this interest maybe if I want to borrow let's say like 200k right now will I I mean and I want to take I mean return it after two weeks still the interest will still be the same amma >> yeah I think the our the interest rate is structured uh differently >> um as as you've mentioned you see uh each institution has its own uh lending rates Okay. And um I think the most important thing is you as a lender, >> you need to be very cautious with um uh the financial that you're dealing with. Okay. What you need to be very keen on and what you need to look at is is this financial regulated by the central bank of Kenya. Okay. I think over I think over the most recent um last two or three years we have seen a lot of complaints coming from um customers who have taken loans with uh probably these uh digital apps and most of them are complaining of harassment exorbitant trades. Okay. So number one as a borrower what you really need to look at is the financial that you're dealing with are they regulated by the central bank of Kenya? Okay. and institutions like GA credit we are fully accredited by the central bank of Kenya to be able to um to to to to to lend uh or rather to give digital loans and also to give um asset financing loans and all other loans that we are able to give. Okay. So um the the other thing that you talked about about uh the lending rates I think um you you need to assess yourself as a customer. Okay. the interest rate that you want to take, >> can you be able to to repay it? Okay, you find that different financials have different rates. >> Okay, so if at all um you feel like the financial the rate that the financial is not giving you, >> you probably go ahead and do a market research which financial can be able to give me an interest rate that I can be able to comfortably repay. Okay. I' I'd totally advocate for that rather than going for interest rate that will choke you up and at the end of it you cannot be able to repay it. >> Yeah. >> Okay. We are seeing a lot of cases whereby people are really struggling. Okay. Depression is kicking in because people have accumulated a lot of loans. They cannot be able to pay it. >> Okay. So we are really calling for credential um uh uh sourcing of financing. Okay. Don't just go for a loan just because you need one. >> Kind keenly look at the interest rates. Okay. Also read the fine prints. >> And that's one thing I wanted to ask by the way for someone who has never borrowed before like he's borrowing for the first time. What are those things that you should look for the loan agreement? What are the things that he or she should consider before signing the loan agreement? >> Okay. So, um of course number one uh is the rates. Yeah, >> I think we have talked about that. So, rates is very important because this actually um dictates how much you will pay and how much money is getting out of your pocket >> to go and repay the facility. Okay. So, it has a direct impact >> to your finances, your daily finances. So, number one, interest rate is very important. >> Okay. Number two, also do you really need to know the kind of financial that you're dealing with. Okay. So ensure that the financial that you're dealing with is fully accredited by the central bank of Kenya. Okay? You do not want to find yourself in a situation whereby you're dealing with um people who are not regulated. >> What happens if if at all um something happens >> and uh you do not have anyone or anyone to run to. >> Okay. >> The regulator will tell you we we are not aware of these people. >> Yeah. So you also need to look at the accreditation of the financial. Okay. The other thing of course is um uh look at um uh look at your affordability. >> Okay. >> Yeah. >> Do you really need this loan >> and can you be able to repay? >> Is it a must for me to take this loan? Is it a must >> or I'm just taking it because I feel like I need to grow my business but I have not yet planned how I want to grow my business. >> Exactly. So you really need to have a clear plan before you even take that loan. >> Yeah. >> Okay. You do not just take a loan because um I've come to you and told you I can give you 1 million shillings. >> Yeah. >> So you just take 1 million shillings and then you say I'll know what I'll do with it. So you really need to have a plan. Okay. And and the risk of doing that is most of the time that money ends up being diverted. >> Yeah. Okay. You you but the back of your mind you told yourself this 1 million shillings I know I'll be able to put it into my business and it will be able to grow the business >> but you know how money works. >> Okay. So you'll be tempted to divert this money elsewhere at the end of the month. >> The loan needs to be repaid >> to be repaid. >> Okay. So we need to have a clear plan even before signing up for that loan >> and see how can this business be able to repay this loan back. >> Okay. >> Okay. and as much as possible um don't look for financing to get her for personal needs [laughter] >> unless it's an emergency >> and that's what I wanted to ask like as an entrepreneur how can you differenti I mean separate like borrowing for to grow your business and borrowing to just facilitate or rather be able to to support your daily life like daytoday life how do you separate the two borrow to grow your business then borrow that day for >> um I I think I'll still insist um if at all you want to take that loan, let it be tied to the business. >> Okay. >> Yeah. >> Because um the purpose of a loan should strictly remain to uh generating more income. So if the loan is not going towards uh generating more income, >> it's not helping you at all. >> Wow. If if at all probably I know there are instances probably that um will necessitate you to take a loan for a personal need. I know we have emergencies probably you need to pay for a hospital bill. Those instances are understandable. Okay. >> But at the end of it also you need a solid plan on how that money will be paid back. >> But majority I'll advocate let if you're taking a loan let it go towards >> your business. And just a funny question let's say assume you may take that loan for business and the business end ups failing and you come actually like my business he may fail like I find how am I going to repay your loan and what do you do maybe you as the person do you still will you still be harsh on me the business like I just succeed and this is what I wanted to do there maybe is there like an adjustment of the rules of the agreements that I've signed It's just like the agreement to be the agreement adjustment or something. >> Okay. So I think um we we we have a lot of um we accommodate a lot of customers because that is something that is totally normal. >> I think most businesses do not really pick up the way customers expect it and we totally understand. So as um as financials and specifically as G credit we have formulated uh avenues for such kind of uh scenarios. >> Yeah. >> Okay. So number one we can look at uh there's a room for negotiation. >> Okay. We can uh proceed and restructure that loan probably extend it to a longer period >> just to be able to help you uh get on your foot as a business. Okay. We can also look at lowering the installments. If at all the installments were a bit higher for you, you can come in we discuss on how we can be able to uh bring down the installments uh to manageable levels. >> Okay. >> Yeah. >> Oh wow. Beautiful. At least so don't be scared if it goes south they can still understand you and give you that dress period for you to figure out things. Yes. And today it's WCW women crush Wednesday. Okay. and the women will me if I don't ask you this question. Uh what does girl credits maybe have for like women entrepreneurs who are looking forward to venture into business or who already have the business uh and they want to grow uh but they lack the traditional collateral like what do credits have for this type of entrepreneurs? Um okay. Uh for let let me just say um we for now we do not have a product that is clearly designed for women but I think that is something that uh you have brought out but I think it's really interesting. Yeah. >> So it's something that I think we need to formulate and >> yeah we need to you need to because we have a lot of like young women who are actually trying their level best to ensure that they feed their family on a daily basis the ones tailor the the ones selling clothes also thrifty clothes on Tik Tok. So yeah maybe you can come up with something for them. >> Yeah yeah yeah sure yeah that's something to look at. >> Yeah. Okay. So women to consulted to consulted and go great if they're going to think about us. So yes and another question is that what do you think that maybe is there something that you feel like the government can do maybe to help business people at the grassroot level to to grow or people who are at the grassroot level not necessarily like business people but at the grassroot level in all areas either business farming to maybe for them to grow. Is there something that you feel like the government can do or should do that is not doing? >> Okay, I think um number one is um uh the digitization of uh the digital scoring >> Yeah. >> of uh customers. Uh I I I really want and I I really hope that um we move fully from uh the traditional way of of lending. >> And what do I mean by traditional way of lending? um previously for you to unlock financing uh from an institution from a financial institution you needed to have solid collateral. Okay. Now if we leverage on technology okay if we leverage on technology in such a way that um we are able to uh assess customer eligibility. Okay. Customer eligibility and um this can clearly be seen through um the your your CRB scores. Okay. Right now I think we have three uh CRBs that you're currently working with and and um my hope is that we need to have a centralized way of uh evaluating customers >> through their CRB eligibility. Okay. So if at all we able to have that fully implemented, I think we can now start moving from the traditional way of looking at collateral as the major way of um assessing customer eligibility. Okay. Number two, I think um we need to continue with the financial literacy. I think uh I've seen it ongoing but we are still yet to get there because um I think we having cases whereby uh people are not really uh fully uh convincent with how they're supposed to use um money that he have taken okay as loans okay so if at all probably government needs to come up with uh initiatives on how they can enlighten the business people in the grassroots on how they can secure financing how they can be able to use this money to be able to build their businesses Okay. And this can be done of course through uh the devolved systems through the county levels. Okay. Through the constituencies, through the counties and everything. >> Okay. So if at all the government comes in through with those through those two areas, I think we'll really go a long way. >> Wow. M >> so for the leaders who are watching us this morning I think you know exactly what to do to ensure that people get this financial education so that we don't end up like to kind of grassroots man some businesses need to grow for 5 years and still the business is still the same. Yeah we want us to grow especially for the women watching us time we need to to grow our businesses. So yeah, the government maybe should do something on that. And since this is a youth station, you know, the number one youth station in the country and the youth are watching you. So you realize that youth, we have ideas. We really have good ideas like wait a minute but with limited access. So maybe what can you tell that youth who is watching you right now and they want to start that business maybe but limited and any financial access or something. So what advice maybe can you give to them? >> Okay. I I I will I will advise them to not to uh hold themselves back. >> Yeah. >> Okay. I think we as entrepreneurs you really need to be aggressive and if at all you have an idea you need to go out of your way present that idea to people who you feel can be able to push that idea to the next level >> not only to financials okay we have people who can be able to uh sustain for example you you have an idea along a certain field be it in IT in agriculture we have people who are in those fields who can be able to help you uh rise. Okay, >> I'd like to call them like uh the mentors. Talk to those people. Uh talk to them. Don't fear. Go out of your way. >> Okay. They say this world rewards audacity. So go out of your way. Talk to those people. If they can be able to push um your idea to go ahead, do that >> as well. Don't fear talking to um financial institutions like Gal Credit. we can be able to help you finance your idea to come into fruition. >> Wow. >> Okay. So the bottom line is um push your product. I think the best the the the most successful business people they were not held back by any limitation. >> Yeah. >> So we need to go out of our way and uh do all we can to ensure uh that business thrives. Maybe do you have like maybe one real story of someone maybe that credit has watched uh that person grow like from zero to 100 maybe in terms of business so that maybe they can just get quite encouraged who started like from zero. >> Yeah. At go credit maybe or rather you coached that person to start from zero. Is there maybe anyone that you have managed to do that? >> Yeah. Uh we I have a lot of I have a lot of people that uh 10 years I've been able to Yeah. over my career I've been able to uh see a lot of customers growing. >> Yeah. >> Um I think what the the the most interesting one was um uh customer that I met in 2019 and um he started off just a a small contractor. Um I think he he he was doing the small contracts with um uh the county and over time we have a product that caters for such kind of customers >> and we have been able to finance him do with doing that such kind of contracts and I'm very happy to see that nowadays he's a very big contractor >> and uh he's he's he he has been able to set up uh apartments. >> Wow. >> In Kilmani very big apartments. So, >> so that's a success story and it it clearly shows that um the financials the financial plays a critical role in the success of business people in Kenya. >> Yeah. >> Wow. Interesting. So maybe as we we wind up maybe can you tell us more about credit because we've just been talking about loans. Is that the only is that's the only thing Gal Credit do offer or maybe there are so many other things. Maybe now it's time for you to tell us more about Bengal credit so that we get to understand. >> Okay. So, credit is a credit uh uh only uh financial institution. >> Yeah. >> We've been in the market uh for the last 18 years and um we offer an array of uh financial products. Our aim is to ensure that the business person in Kenya is able to scale up their business with the financial products that we're currently offering. So we have a lot of of products that we are currently offering. Uh we have the asset financing. Um of course we are able to facilitate customers uh purchase assets for their businesses. >> We also have uh we give log book loans for people who have motor vehicles and they probably they want to secure or unlock financing using their motor vehicles. We do offer that. We also do import financing if rather if you're importing motor vehicles or importing goods uh from China from Japan wherever it is we able to do that we able to facilitate the import also have study abroad >> we also able to facilitate people want to go and study abroad currently we have a lot of students going to study in US in UK >> and they pay back in return >> they do pay back >> we have a very good structure >> but they do pay black. >> Okay. >> And um of course we also have um we also have um a cargo loan for business people importing goods uh from China. >> So if you do not have to worry if you do not have capital to import good from China, >> we can be able to pay um the manufacturer in China. Wow. >> And the goods come to Kenya. You do your business >> and repair us back once you get your money. >> There's no excuse for us not to do. There's no excuse for business people. Credit is here to sort you. Uh come talk to us. We are ready to serve you and um offer the products that you're currently having. >> Wow. >> Interesting. So now as you have heard, if you want to go stud abroad, there's no excuse for you to say that oh I didn't manage to pursue my dream because I didn't have money. G credits are here to do that for you. If you're a business person also stuck, remember you can always talk to them. Maybe uh you can just talk to us where we can find you on social media so that in case someone has questions they can still talk to you even after the show. >> Okay. >> Yeah. >> Uh we across all social media platforms uh Instagram, Facebook, Tik Tok X, LinkedIn, you'll find us there. Just searching our credit. >> Yeah. >> You will uh find us, interact with us. We post a lot of content. >> Um get in touch with us. >> Wow. And what if now someone want to get talk to you on not the the credits as a company in general but want to talk to you in person maybe about finances and all that where can they find you >> okay you can uh reach me um through my mobile number >> I think uh I don't know whether I can share it [laughter] >> if you're available you can reach me through my mobile number I think you can also reach me through um our G credits number >> yeah to 0709650. I think you can also reach me through there. >> Wow. >> Interesting. So guys, as you have heard from Ian, Mr. Ian himself, uh he has shed some lights on how you can take that loan, how you can make good use of it and how you can grow your business actually and also how you can take good care of that loan. [laughter] But now I think we have learned how to manage our finances not just the loan actually because he has been talking about how to manage even your finances you as a business person because sometimes we realize that we end up getting the money as business people but tonight to to do some nothing like doing nothing with the money. So actually we have also learned that that you need to ensure that this is business money and this is business money. Yes. So for your business to grow a business for 5 years, 10 years. No, we need to grow and that's why we are here to ensure that you wake up, you get informed and inspired. Okay, it's why in the morning and yes, it is at that point now that we wrap up the show. But before I go, remember my name is Tunifa. You can find me on different on all social media platforms Tik Tok, Instagram and also Facebook. I'm coming through and also pal X at Tunu Neifa. It has been really amazing hanging out with you guys this beautiful Wednesday morning and I'm sure you have get inspired, informed and also entertained. Thank you so much for staying tuned. Till next time. Bye-bye. I love you.