Lender bags best logbook financier award

Mwananchi Credit has for the second year running been ranked the best logbook financier in Kenya, cementing its position in one of Kenya’s most competitive credit segment.

The secured emergency loans provider was among the companies recognized this year at the Automotive Industry Excellence Awards, which celebrate exemplary service to consumers.

Mwananchi Credit was awarded as a market leader in the car financing segment and its efforts to keep lending amidst the unprecedented Covid-19 pandemic disruption of people’s financial lives. The company topped in the same category last year and has further fine-tuned its logbook loans not only to reach a wider market but also made repayments easier.

Dennis Mombo, the company’s Executive Director, attributed the Best Logbook Financier 2020 award to a commitment by its employees who, he noted, ‘went above and beyond’ to make sure clients get emergency loans on time.

Mwananchi Credit offers car loans to vehicle owners with valid logbooks with a repayment period of up to 48 months. Most of its logbook loan customers are people looking for emergency loans to sort out situations that require quick credit.

Mwananchi Credit’s car loan requirements include original car or motorbike logbook, KRA PIN, National ID, two passport size photos, six months bank statement, and comprehensive insurance certificate cover.

Mombo praised Kenyans’ resilience during the Covid-19 outbreak, saying they have displayed a strong spirit in fighting the pandemic and abiding by the Ministry of Health guidelines and protocols.

 “We are affected by the pandemic just like anyone else and therefore punishing borrowers for an unprecedented virus would have been wrong and unfair,” he said.