Kuna loans zinamaliza watu – Mosiria calls out lenders misleading Kenyans
By Charles Ouma, January 30, 2026Nairobi County Government’s Chief Officer for Citizen Engagement and Customer Care, Geoffrey Mosiria, has lashed out at lending institutions that mislead clients and end up trapping them in debts with unfair terms.
Mosiria called out the institutions on Thursday, January 29, 202,6 via a statement posted on his Facebook account, noting that many hardworking Kenyans have been ruined by such companies.
He stated that such loans with ambiguous interest rates and overcharging clients only bring poverty.
“Kuna loan zinamaliza watu hapa inje ,zinaleta umaskini! (There are loans that reduce people to nothing and bring poverty),” Mosiria stated.
He urged loan companies to stop misleading clients with unfair terms.
“To lending institutions: please stop misleading your clients and overcharging them through ambiguous interest rates,” he said.
According to Mosiria, such loans have pushed many into financial distress with some sinking into depression.
“Such practices have reduced many hardworking people to financial distress and pushed some into depression,” he added.
Mosiria’s appeal to government
Mosiria appealed to government institutions responsible for regulating financial institutions in the country to safeguard Kenyans from the traps by ensuring fairness, transparency and responsibility in the sector.
“I appeal to government institutions responsible for regulating these lending institutions to investigate them and safeguard innocent Kenyans. Fairness, transparency, and responsibility are not optional they are essential,” he added.
He noted that a number of bodaboda riders and taxi drivers have complained about predatory lending in which they end up paying more than triple the amount loaned.
“Mtu anachukua loan, mnamuharakisha kila siku analipa. Boda boda ya 170 thousand mtu analipia 600 thousand. Gari ya 600 thousand mtu analipa 2 million au hata 3 million,” Mosiria lamented.
Loosely translated to “People acquire motorbikes costing Ksh 170,000 but end up paying Ksh 600,000. Others who acquire cars on loan at Ksh 600,000 but end up paying as high as Ksh2 or 3 million.”
He lamented that some lending institutions are taking advantage of young Kenyans struggling to earn a living. Some have been forced to poverty and suffering with some causing accidents as a result of stress over how to repay the loan.
Mosiria alleges collusion with criminals
He also noted that some rogue lenders may be colluding with criminals to repossess assets as soon as the loan is settled or once a significant amount is paid.
“Wengine wakimaliza kulipa gari ama bodaboda ile tracker wale watu wanatumana vijana wanaiba zinaenda (These rogue lenders in some cases collude with crooks to steal cars and motorbikes as soon as the payment is done) Mosiria noted.
Mosiria also called out shyllocks and companies that give out phones with flexible repayment rates for exploiting their clients with unfair and inhumane terms,