Mwananchi Credit

The financial struggles facing popular microfinance firm Mwananchi Credit are no longer news.

The latest development saw the company close its office at Pension Towers and move all operations to Ecobank Towers.

According to a notice posted on the company’s social media pages, all services previously offered at Pension Towers will now be conducted from the 10th floor of Ecobank Towers.

For the past month, the microfinance institution has reportedly been facing serious financial difficulties, leading to the dismissal of a large number of employees.

Staff members who spoke on condition of anonymity claim the company’s situation has worsened to the point where even paying salaries has become a challenge.

“Some time back, CEO Dennis Mombo told us that the company was undergoing restructuring and that no jobs would be affected. It came as a shock to us when those claims turned out to be untrue, as he later dismissed most staff without any notice,” said one employee.

Another senior staff member alleged that the CEO has developed a tendency to dismiss employees who question management decisions.

“He seems very stressed when you look at him. The company is not doing well at all. These days, his main work appears to be firing and hiring. We see new employees coming in almost every day,” said the staff member, who also requested anonymity.

Employees say the constant staff turnover has also begun to erode customer confidence, as loan files are frequently handled by different officers.

“Following up on customer loans has become very difficult. Today you handle a file, and tomorrow you are fired,” another employee said.

This is not the first time the company has made headlines for the wrong reasons. Earlier this year, staff members publicly complained about delays in salary payments at a time when the country continues to face tough economic conditions.

Access to financing remains a major hurdle for many Kenyans. Even individuals with clear goals, viable projects, and good financial records often struggle to raise capital. As a result, promising ideas stall, businesses fail to expand, and personal ambitions are delayed. Reliable and accessible credit solutions are essential to unlocking economic growth and improving livelihoods.

Award-winning microfinance institution Mwananchi Credit is stepping in to close this financing gap by offering timely and practical loan solutions that help Kenyans turn their dreams into reality. With over five years of a strong and reputable track record, the company has built trust by providing customer-focused financial services designed for speed, convenience, and flexibility.

One of its standout products is the logbook loan, created specifically for vehicle owners who need quick access to funds without disrupting their daily routines. Under this arrangement, a customer’s vehicle logbook serves as security, but the client continues using the vehicle throughout the repayment period. This unique approach ensures borrowers maintain their mobility while accessing immediate liquidity for business or personal needs.

Qualifying for a logbook loan is straightforward. Applicants only need to be at least 18 years old, possess a valid driver’s license, and have comprehensive vehicle insurance. Mwananchi Credit offers some of the lowest interest rates in the Kenyan market, with approvals processed in less than six hours. Repayment terms are flexible, ranging from three to 24 months, and clients can access loans of up to KES 25 million.

Importantly, Mwananchi Credit is licensed by the Central Bank of Kenya, giving customers confidence in its credibility and regulatory compliance. The company also does not require a CRB rating, making financing accessible to a wider range of borrowers.

Beyond logbook loans, Mwananchi Credit provides additional financial products including check-off loans, title deed loans, import financing, and LPO loans. These diverse options ensure individuals and businesses can find solutions tailored to their unique financial needs.

With flexible terms and a customer-first approach, Mwananchi Credit is helping Kenyans fund their projects and move closer to financial independence.

For many hardworking Kenyans, owning a car has long been a distant dream — but that’s about to change. This week, leading finance firm Mwananchi Credit is rolling out one of its biggest used car sales yet, opening up affordable car ownership opportunities to everyday hustlers across the country.

Unlike other sales, Mwananchi will be selling cars from as low as Sh 200,000 to over Sh 5 million for the high-end luxury cars.

“This sale is for everyone — not just big dealers,” said Chief Operations Officer George Kimani. “Whether you’re a hustler trying to get your first car or a businessperson looking to expand your fleet, there’s something for every wallet.”

According to the official sale list, over 40 vehicles will be available at various locations including The Auction Centre (Nairobi), Startruck Yard (Industrial Area), Nyaluoyo Yard (Kisumu), Remma (Bungoma), Razor Sharp (Kericho), Mount Kenya Yard (Nyeri), Moco Yard (Kisii), Jogi (Malindi), and Eldoret Supermax.

Among the top highlights are a 2022 VW Tiguan valued at KSh 5.5 million, a 2015 Toyota Prado TX priced at KSh 5 million, and a luxurious BMW 740i (2016) going for KSh 5.5 million. For those who prefer rugged performance, the Mercedes GLE 400 (2017) leads the lineup at KSh 7.5 million, making it one of the premium offerings in the sale.

For buyers with commercial interests, Mwananchi Credit has also lined up a range of heavy-duty machinery and trucks, including an Aolite Shovel (2016) valued at KSh 3 million, Howo and FAW trucks, and a Mercedes Actros (2015) priced at KSh 3.5 million.

“We’ve made sure the selection caters to both private buyers and commercial operators, with options spread across the country for easier access,” added Kimani.

Interested buyers are encouraged to visit the respective yards for vehicle viewing and inspection ahead of purchase. All vehicles are sold on an “as-is, where-is” basis, allowing buyers to assess condition and value before completing the transaction.

The sale is expected to attract wide interest thanks to its diverse lineup and Mwananchi Credit’s growing reputation for transparent and customer-friendly asset sales.

From executive sedans like the Toyota Crown and Nissan Teana to sturdy workhorses such as Isuzu and Foton trucks, the October 17 used car sale offers a unique opportunity for Kenyans to own quality vehicles at competitive prices.

Whether you’re looking to upgrade your ride or expand a business fleet, Mwananchi Credit’s latest used car sale might just be the ticket to drive away with your dream deal.

For more details, visit Mwananchi Credit offices or their official website for full sale terms, vehicle listings, and registration information.

Leading money company Mwananchi Credit has moved quickly to dismiss claims that it has fired staff working in its check-off loan department insisting that it is streamlining the operations to serve customers better.

In a memo said all those who worked in the department have been asked to re-apply for their jobs again with interviews set to commence from Tuesday.

“Despite concerted efforts to enhance collections and strengthen financial accountability, the Product has continued to underperform. Several team leaders have not met the expected targets, resulting in significant financial losses,’ a memo from Human Resource Manager Collins Okello reads.

The restructuring comes after a series of high-level discussions, the first of which took place on February 25, during which key concerns about loan collections, non-performing loans, and commission structures were raised.

Despite efforts to enhance financial accountability and improve collections, the checkoff loan product continued to underperform, resulting in substantial financial setbacks for the company.

Mwananchi Credit on role of employees

The company has acknowledged the contributions of employees who have worked within the checkoff loan department and has assured them of support during this transition period.

The company’s decision highlights a growing challenge within the financial sector, where non-performing loans and inefficiencies in collection strategies have forced companies to rethink their credit offerings. The move could signal a broader industry shift, with other institutions potentially following suit to minimize financial risks and enhance profitability.

With restructuring efforts underway, Mwananchi now faces the task of transitioning affected employees and ensuring that financial accountability measures are met. The outcome of this decision will likely shape the company’s future financial strategy as it seeks to strengthen its business model.

The firm is best known for its logbook loans, which allow vehicle owners to use their logbooks as collateral in exchange for quick financing.

Mwananchi has been offering the best loans to clients all over the country

It also offers salary check-off loans, a facility widely used by government employees such as teachers, police officers, and other civil servants.