Eldoret:Unrest as Ushindi Bora microfinance fails to process traders savings!


-An Investigation conducted by the Hubzmedia revealed some of the business people who had saved with the micro-finance are unable to withdraw their savings.

The Ushindi Bora Eldoret branch based at the Main Stage Eldoret, Komora Building – 2nd Flr

A section of business people  in Eldoret have expressed  fear of losing their hard  earned savings with a micro-credit solutions provider that is currently unable to process their monies.

The  Ushindi Bora Microfinance that operates in Nairobi and other  major towns  in Kenya  targets  low-income earners to middle class households .

Ushindi Bora Micro- finance  Eldoret Branch, is currently  facing  financial crunches as  a result of  repayment  defaults .

An Investigation conducted  by the  Hubzmedia  revealed  some of the business people who had  saved  with the micro-finance  are unable to withdraw their  savings.

“I started saving with the microfinance in 2023 However early  this  year  I tried  to withdraw my savings only  to be informed that I had  to wait  for a month to get back my savings, it’s been over  one month  now and I can’t  still access  my savings,” Said an Eldoret based business  woman and a  client to the micro finance  institution.

Another Business lady claims she had to wait for over two months to access her savings of less than Sh2,000 with the micro finance,

“It  has not been easy  I was operating  a kibanda business  , I thought  saving with the micro finance that  claims to support  credit  solutions to low-income earners like myself  could  help, I was humiliated by the  staff of the microfinance  who dismissed me of nagging them  despite my  meager savings ,the  company has poor  customer service and am afraid many customers could lose their money” Noted another young business woman.

The management of the Ushindi Bora Microfinance, Eldoret branch admitted to Hubzmedia that the company was experiencing challenges in debt collection,

“Yes we have had delays in processing and  disbursing clients  savings ,many of our  clients who the institution has  credited are unable to service  their loans on time, we fear if  we  engaged  auctioneers  we would incur more losses” Said one of the employees.

Challenges  facing Microfinance institutions in Kenya are funding, repayment default , government regulations and Low profits  that have led to the collapse of  some of the Institutions.


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