Mar 25, 2018
This is my opinion,
For the time I have been receiving loans from Zidisha I have noted one big weakness which is high loan defaults. Borrowers are much aware of all measures put forward to make sure they are current on repayments. Just to mention a few: VM reminders, Posting comments, adjusting weekly/monthly repayments amount etc. Regardless of all this some members still default loans and go unpunished.People should take responsibility of their own ventures. Its my suggestion Zidisha to report to Credit Reference Bureau all non serviced loans for the past 1yr or so. This is unfair to a very helpful non profit organization which is there for us all.
The other choice is to always request information for borrowers from Credit Reference Bureaus before lending to them. Many of the borrowers here are blacklisted for non performing loan.
You can also ask a borrower to upload a screenshot of his/her CRB application report . Here in Kenya we have two CRB which are most effective namely Metropol and Transunoin. Transunion has a application named Nipashe where one can register and request status.
Fitri Fauziyah and Dede Reggy like this.
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