Author: Cheptiony Mutai

  • I Spent $420 On Cryptocurrency Cloud Mining Services And Lost- Don’t Be The Next Victim- Bytebus, Brb Mining

    Cryptocurrency cloud mining service is now the in thing where interested users are wooed to invest a given amount of money in return for a set amount of Bitcoin profits mined everyday. This might be the next biggest scam in history.

    Watch video – I Spent $420 On Cryptocurrency Cloud Mining Services And Lost- Don’t Be The Next Victim- Bytebus, Brb Mining

    The companies offering these services have offices mostly in the UK and Islands of Europe and Asia. What users buy is cryptocurrency mining rigs in an undisclosed warehouse location (for privacy reasons). The higher the mining rig hashing power the higher the price that users pay.

    Based on their plans and pricing, cryptocurrency mining is highly profitable to those who invest huge amounts of money😁. Mining rigs with high hashing power are able to bring an investor up to $10,000 worth of Bitcoin a day for a period of 365 days. That’s a lot of money if you do your math.

    The mined cryptocurrency is deposited to a users cryptocurrency wallet every 24 hours. There, they can withdraw and exchange it for cash.

    But is this claim really true?

    You will never know the answer until you invest in them. That’s why I took the risk and invested in two different platforms-Bytebus and BRBmining.

    A Quick Search Online of Cryptocurrency Cloud Mining Service

    If you go online right now and search for Cryptocurrency Cloud Mining Service, you will realize that there are many companies offering this service. This is aside many blogposts listing the TOP cloud mining cryptocurrency sites.

    That was how it started for me. I clicked on an article suggestion by Google. Before I knew, I was already signed up for two of these services. One of them offered free starting bonus of $10 for beginners.

    I later used search engines to research on these companies I had signed up on before resorting to invest my money. This process tooked me 2 months.

    So what made me resort to invest in them?

    Bytebus

    Bytebus.com championed themselves as a platform that anyone could join for free without investing anything. They said they had more than 360k users.

    When one signed up, they got their account credited with $10 bonus. With this, one was able to purchase a mining plan of $10 and get a return of $1 daily.
    The catch was, one was required to login and purchase a plan everyday. The $10 plan was limited to one purchase per day. When your balance reaches $100, you could withdraw your funds. I created two accounts.

    In one of the accounts, I deposited $100. My accumulated amount on that account was $57 at the time of deposit. I then withdrew $147 and it was successful. This motivated me to reinvest thinking it was genuine.

    I deposited the amount to the second account which had $65. With it I could invest in higher mining rigs of $100 with a return of $2 day.

    Screenshot of $273 investment on Bytebus

    That was the end of my investment. I never saw my investment back. What you see from the screenshot above, is the amount I deposited plus the profits I made from my mining investment.
    At their last days of vanishing, the site blocked all the withdrawals and demanded users to deposit $1200 for them to process their withdrawal. They claimed all accounts were illegal.

    Unable to withdraw funds from Bytebus


    That was the end of the company. The site was gone in a few days.
    In the mid of desperation on their last days, they carried out campaigns themed ‘new year special offer‘ to deceive more users to deposit $100 or more and get twice the amount deposited onto their account balance. E.g you deposit $1000 and you get $2000.
    This is crazy. I mean scammers have a way of milking existing users dry with a promise of making them rich.

    BRB Mining


    BRB mining is another cryptocurrency cloud mining service with it’s offices in UK.

    When you sign up, you will be taken your account dashboard. Here you will see your cryptocurrency wallets.


    In order to start mining Bitcoin, you have to purchase a mining rig of your choice.
    So you go to ‘start mining’ and select purchase a plan.
    When investing, I purchased a $12 and $320 plan. As you see here, I expect to earn $31 daily with the plan and $930 monthly from the $320 plan. This is good money.

    BRBmining Plans


    The catch comes once you have purchased your plan and it’s time to withdraw your funds.
    When you place your withdrawal request, it will be placed under review and after an hour, you will receive an e-mail telling you it’s been rejected because you have an outstanding electricity bill to pay. For my case the bill is $803. This is an amount that is not communicated upfront when planning to buy a plan.

    Pay electricity fee to BRB Mining

    This amount cannot be deducted from the mined coins either even if you have Bitcoin mined worth $1000. They want you to deposit the electricity fee amount for you to withdraw the bitcoins. This is a red flag in my opinion. How sure are you that they will not slap you with another bill?
    When I complained about this, they asked me to check their terms of service. Their decision is covered under prices and payment clause which gives them authority to introduce expenses at any point of users contract.

    Going by the way things are going on right now based on our conversation on Telegram, I am finding this as ‘an advanced version of cryptocurrency scam.‘ They upsell you with expenses.

    How am I sure that what I see on my Bitcoin wallet is only numbers that keeps counting in the name of bitcoin?

    Its not confirmed yet, but I might loose the funds invested if they insist that I deposit electricity fee which I will not. Once bitten twice shy.
    Btw, they offer their customer service on Telegram. They respond as they wish. Some enquiries are attended to and some are not.

    So who owns BRB Mining?

    BRBmining is a company registered in the UK with it’s directors of a Nigerian nationality.


    While they claim to have been on business for 5 years, a quick check on who.is of their domain, it shows it was registered on September 2022. I wish I could have seen this before coz it contradicts their claim.

    I think their cloud mining service is a scam coz if cloud mining is really a profitable venture, why can’t they convert bitcoin balance and pay for electricity bill? As we speak my bitcoin mined balance is worth $890. This is enough to pay electricity bill.

    Another thing is their website domain registration date compared to their claim to have been in business for more than 5 years. Their domain was registered with Godaddy on September 2022.

    When I asked them on this they said, they were changes in their company and the changes affected their company address too. This is a very common act by many scammers. When many people want to withdraw their cryptos and they have no funds because there was no mining taking place, they close down and open again under a different domain name.
    That is exactly what Bytebus.com did on January.

    So How Do These Cloud Mining Companies Manage To Get Away With Crime?

    • They have terms of services and privacy policy that can be altered anytime in their favor. The changes they make is never communicated to their users. In parts of their terms they state plainly that cryptocurrency is unregulated currency and you can loose everything. This gives them freedom to get away with your investment.
    • They want you to pay in cryptocurrency. That means you need to first buy bitcoin/USDT and use it to purchase a plan. This way, they can easily get away with your money in form of cryptocurrency.
    • They tell you only good things about the plan on offer. When you want to withdraw the funds, they slap you with a huge electricity bill that they know you will not afford to pay. That way, you will not say they scammed you. Who knows the next bill you will be slapped with after paying for electricity.
    • They keep changing domain names when they are got. Also, they use different domain addresses for e-mails. The one for e-mail marketing is different from the one for customer care and that one of the website. Only keen people with recognize this.
    • One user can open many accounts.
    • They operate mostly from the UK.
    • They always have crazy offers. You are told to deposit say $1000 and you get $2000 in your account to use in purchasing a mining rig. This way, one is tempted to invest because of huge profits promised.
    • Your first withdrawal will be successful if it is a small amount. With this you will be motivated to invest more knowing that you can withdraw.

    There is a lot to talk about cryptocurrency cloud mining sites.

    But let me leave it there today.
    I hope you have learnt something.
    Have you ever invested in cloud mining services?

    How was your experience like?

    Let me know your thoughts in the comments section below.

    And until next time take care and don’t be the next victim of cryptocurrency mining service scam.

    And if you need professional video production services, you can request a quote here.

    Until next time, bye bye and take care.

    Follow me on twitter @cheptiony.

  • Is Freelancing Online A Lucrative Career?

    This is a common question that many people wanting to pursue a career freelancing online today ask. Having been a freelancer for now 10 years, is freelancing truly a lucrative career? The answer to this question is an affirmative yes. Now the success that everyone is looking for lies on how you pursue it.

    Watch Video: Is Freelancing Online A Lucrative Career?

    For instance, freelancing on a platforms like Upwork, Fiverr, freelancer and others was very lucrative 5 years ago but now things have changed. It’s now hard to make a descent amount of money there. This is owing to an increased number of people joining these freelance gig platforms looking for work compared to the number of clients hiring.

    So what makes freelancing a lucrative career despite the shifting tides in the freelance marketplace? It is the individuals flexibility to adapt to change. In this blogpost, I will share with you 3 things that still makes freelancing a very lucrative career to date.

    Direct Connection With Clients

    One of the biggest shifts that we all witnessed during the Covid-19 lockdown in the year 2020 was the change on how businesses connect with their customers and workers. Freelancers were not left out. They contacted clients directly to seek for work as opposed to applying for work through the freelancing platforms.

    As it turned out from the freelancers I have interacted with, getting hired by a company directly online is more lucrative than applying for gigs every day via a freelancing platform. I am also a firm endorser to this approach to freelancing. It is the way to go.

    A good example is a client who hires a freelancer for a 6 months contract. The contract pays the freelancer an average of $4,000 a month. That’s good money depending on the country you are residing in.

    Moreover, you can plan how you will spend the money or invest.

    When you compare this to a freelancing on a platform; on a freelancing platform, it’s really hard to get a client who hires you and give you work consistently for more than 3 months. You may have a contract with a client for long but what you make from it in a month is very small.

    The secret today to a lucrative online freelancing career is to look for direct clients.

    Diversify

    Diversification gives one a room for growth. Diversity when it comes to freelancing is investing your earnings in profitable ventures. Before you do this, educate yourself on how different online investments work. For instance, before you start investing in cryptocurrency, educate yourself and know how the cryptocurrency you are investing in works.

    Look for avenues in which you make good profit from your investment.

    When you do this, you will be able to shift your focus from depending on one source of income to many. Freelance diversification is not only limited investments; you can diversify your knowledge as well.

    For example, if you are a video producer like me, you can diversify and offer video script writing and graphics designer. This move will give you a room to grow financially.

    Diversification multiplies your sources of income and this makes freelancing a lucrative career.

    Own A Business Online

    Take freelancing as an avenue to study and do market research for your next business. Have a goal of owning a business online that serves people within your career. The beauty of freelancing online is that you are paid as you learn how it works. When I started freelancing way back in the year 2013, I had very little experience in video production.

    When I was hired for my first job, I learnt from it. I kept perfecting it with time while working on paid contracts. However, my goal always had been to own a successful video production business in Kenya. At the time, I had started it offline.

    Take freelancing as your foundation to not only a lucrative career but a successful business as well.

    Once you have you idea ready, start. Know who your target audience are and address them clearly. When you position your online startup well, you will definitely prosper in it.

    The long term benefit of being a freelancer is owning a lucrative online business.

    Conclusion

    With new emerging technologies and ideas, freelancing will never cease to be a lucrative career. Be very honest with yourself when you take this path. I have seen many people show off and lie on camera that their luxury lifestyles are being financed by money they got from freelancing, trading on Forex, writing e.t.c. Not all of those who share their story about their freelancing journey or trading are lying. But the loud and flossy ones in most occasions lie.

    When you get into the world of freelancing, be open minded. When you come across a good idea, pursue it with a positive mind. When you do so, you will surely succeed.

    And that is if from me on why freelancing online is still a lucrative career today.

    Did you find this article helpful? Let me know your thoughts in the comments section below.

    And if you need professional video production services, you can reach out to me here.

    Until next time, bye bye and take care.

    Follow me on twitter @cheptiony.

  • How To Tap Into The Power Within You

    We all have the power we need to do and achieve all things we need for ourselves in life. The problem is, many of us either don’t know how to tap on this power or they believe it comes from other people and not within themselves.

    Based on my many years of personal reflection and meditation, when I fail and I need to pick myself up, the power that I needed has always came from within me.

    Watch Video – How to Tap Into The Power Within You

    The book of Genesis in the Christian bible chapter 1 verses 27 says ‘So God created a man in his own image, in the image of God he created him; male and female he created.”

    What I understand from this verse is that, I have power within me because I am created in Gods image.

    So how do you tap onto the power within you?

    How do you first find the power within? On this blogpost, I will share with you 3 ways to tap on the power within yourself.

    Go on a 3-28 Days of Fasting

    When you feel lost or failed, the quickest way to get back on track is to fast. Fasting restores the power within you. This is aside many health benefits like improved heart health, weight loss, improved blood sugar control and more.

    Historically, in ancient Egypt, India and Greece, fasting was used for preventive and curative health purposes. It was also used to strengthen the spirit.

    It is well recorded that Pythagoras (580-500BC), the great mathematician and philosopher, systematically starved for 40 days, believing that it increases the mental perception and creativity – a notion that today’s scientists have proven to be so.

    person holding pendant light

    When you are hungry, you can think clearly. You are like still waters that one can see clearly through.

    Fasting gives you the power over yourself. The process of denying yourself food despite wanting to eat is in itself very powerful. When you are able to control yourself you will be able to control everything that goes on around you.

    Recollect yourself by fasting for 3-28 days. You can choose to do a complete or partial fast. Be purposeful when you fast. Fast for a reason.

    Build Faith By Believing in God

    Faith begins with believing in something. Something/someone above and beyond your knowledge and understanding. Faith begins when you start believing in God. You will know him when you acknowledge that he exists.

    The moment you build and strengthen your faith on something immortal, you will be unstoppable. The same faith will spread to other areas of your life like business, career, family e.t.c. You will always have faith that you will succeed in what you do.

    Knowing God is a Journey. You will know him differently each day. He will manifest himself in your life when you purpose to follow him and worship him.

    My point is; you must be persistent in your faith in all seasons.

    Embrace Your Gifts/Talent Fully

    Another way to tap into the power within you is by embracing the talent and gifts you know you have. We are all gifted differently. Do you know what your talent or gift is? If you do, what are you doing about it?

    The first step is to identify your gift or talent. Once you know, do something about it. For example, if it’s writing, you can choose to start your journey by writing blogposts and sharing it with the world. Alternatively, you can start writing your first book.

    My point is, find a way to begin. Once started, perfect it over time.

    That process in itself will help you realize the power you have within you.

    Conclusion

    We are all powerful because God created us that way. Don’t let yourself be deceived by the ways of others. When you feel you have failed or lost, take a step back and try one of these 3 things I have mentioned above and rest assured all will be well again.

    Did you find this article helpful? Let me know your thoughts in the comments section below👇🏻.

    And if you need video production services, you can request a quote or free consultation here.

    Until next time bye bye and take care.

    Follow me on twitter @cheptiony.

  • 3 Things To Do In 2023 That Can Potentially Change Your Life

    Technology and innovations presents to us unlimited potential to success. The big question is, what is holding you back from success?

    Have you ever sat down for a minute and wondered what’s preventing you from succeeding in life despite having access to everything that you need in order to succeed? If you haven’t, it’s high time you do it now.

    Watch video – 3 Things To Do In 2023 That Can Potentially Change Your Life

    Good news is that success is within your reach. Before you give it a try again in 2023, maybe you need to fix one of these 3 things.

    Pay Back All Debts

    black steel pet cage with one dollar

    2022 was not easy economywide. For instance, there was long electioneering period in Kenya which led to high cost of living and inflation.

    At some point nearly everyone found him/herself borrowing money. From friends and family, bank, mobile money, digital apps and more. In no time, we all found ourselves accumulating a lot of debts which became hard to pay back on time.

    when debt collectors come knocking at your door and you don’t have money to pay them back, one feels so embarrassed. As a result some people end up not to paying back their debts despite the humiliation.

    That should NEVER be the case. Always note down all your debts and pay back even if it takes you ages to raise the money.

    Don’t rely on the fact that people will forget. Some may be silent but they recall that you owe them. Make a point of paying them back when you have the money.

    If it’s money you borrowed from the digital apps, pay them back. Negotiate with them so that they can stop charging you interest once the loan you borrowed has matured.

    My point here is, if you owe anyone money, prioritize paying them back in 2023.

     If you are in debt, you should live on 70% of what you earn. Save 10% for yourself and use the remaining 20% to repay your debts. You should set this aside before you spend any other money. 

    From the Book The Richest man in Babylon

    Save Money As a Way of LOVING Thyself

    After working hard in whatever you do, you get paid. Aside eating out and partying with friends as way of treating yourself, do you save? If yes, why do you save?. Reasons for saving money vary from person to person. In this day and age it is becoming harder and harder to save a portion of what you earn.

    Saving for the purpose of acquiring material possessions is very common. When you acquire them then what?? Attaching LOVE around the material possessions you intend to acquire with your savings makes the saving process more worthy.

    If you save as an expression of self love, your attitude will stand out in time as your savings accumulate. You thoughts will be aligned to more ways of loving thyself.

    When you are the best of yourself, you will be the best for others. Whoever is around you will feel the good energy.

    Start A Website/Blog For Fun

    We all have something we love doing as a hobby or just for fun. Have you ever thought of starting a website or blog where you have control and can freely share with world? 2023 is the year to start that. Stop procrastinating and put money aside to start it.

    If you are not good at writing, hire a writer or utilize AI Technologies like chatGPT to write content for your website landing page.
    Everything starts with the first step.

    Have in mind that a website/blog with your own domain name on WordPress will cost you $97/year. This is a reasonable amount considering it is a long term investment on yourself.

    Be patient with yourself as you start. Learn through the process and in no time, you will be an authority.

    Conclusion

    Sometimes, simple things in life holds us back from achieving our dreams. Don’t procrastinate; take that first step today. That’s the only way you will know if it is going to work or not. When you have control of your finances, you have control of your current and future life.

    And these are the 3 things that I suggest you do in 2023 that will potentially change and shape your future.

    Did you find this article helpful?

    Let me know your thoughts in the comments section below.

    And until next time, bye bye and take care.

    Follow me on twitter @cheptiony.

  • 7 Events That Had Global Impact In 2022

    2022 was a tough year economy wise for most people across the world. The ongoing war between Ukraine and Russia indirectly contributed to the rise in the cost of living in countries who depend on imports from Russia and Ukraine like Oil, Gas and fertilizer.

    In the digital space, Bitcoin cryptocurrency price dropped by 60% from $54K in January to now about $17k as many countries begin to adopt cryptocurrency as an alternative means of payment and investing.

    Additionally, more and more innovations in tech including robots and Artificial Intelligence(AI) is taking shape including commercialization of electric cars and introduction of robots to perform various human related tasks. The latest one is an AI trained chatbot ChatGPT.

    On investments, it’s this year that we have seen Elon Musk buy Twitter and fired many employees as part of restructuring.

    In Kenya, we have a new president-Hon. William Samoei Ruto.

    All this and more combined had a great impact on many people both economically and socially going forward. In this blogpost, I will highlight top 7 things in 2022 that impacted many globally.

    Russia Verses Ukraine War Intensified

    On February 2022, Russia invaded Ukraine in a major escalation of the Russo-Ukrainian War and its effects on the economy was unprecedent.

    Fuel prices escalated from $60/barrel to now $110 barrel which in turn led to high cost of living.

    The conflict between Russia and Ukraine began in 2014 when Russia annexed Crimea, a region that had been part of Ukraine since 1954. The annexation was widely condemned by the international community and led to economic sanctions against Russia.

    In the ensuing years, fighting broke out in eastern Ukraine between Ukrainian government forces and pro-Russian separatists, who were supported by Russia. The conflict has resulted in thousands of deaths and has displaced many people.

    Efforts to negotiate a peaceful resolution to the conflict have been ongoing, but the situation remains tense and there have been periodic flare-ups of violence.

    In a recent report by BBC, Russia has suffered a major defeat in the southern city of Kherson and Ukraine soldiers regained some major regions that was earlier taken by Russia.

    Ruto Was Elected As The President of Kenya

    2022 was the electioneering period in Kenya. Official political campaigns began on March with many presidential candidates.

    Four major candidates stood out based their history of influence in the political scene. Each of the contenders had their political agenda that appealed to a certain group of Kenyans.

    George Wajackoya became widely famous for promising to legalize Marijuana if elected president aside other weird proposals that got everyone talking. One among them was a proposal to domesticate hyenas and sell their testicles for profits to China. This didn’t go well with many despite him gaining fame from it.

    At the end it was clear that two senior politicians led the race. That was Hon. William Samoei Ruto and Hon. Raila Amollo Odinga. As they said it was a 2 horse race.

    As the elections neared, maize flour prices soared by 90% to Kes.210 from Kes. 120. This was blamed on the war between Russia and Ukraine. The rise of Unga prices affected many and it became the center of focus with a group of Kenyans protesting in the streets of Nairobi asking the government to subsidize the product.

    In the mid of it, politicians went around the country promising Kenyans that they will lower Unga prices after 30 days in office if voted in. On August 9th 2022, Kenyans casted their votes and waited patiently for their candidate to win.

    On August 15th, IEBC chairman Wafula Chebukati announced Hon. William Somoei Ruto as the winner of the presidential elections. This didn’t go well with the his close opponent Hon. Raila Odinga who lost by a small margin.

    He contested the results through a court petition but lost it again for lack of clear evidence to disqualify the election results. At the end, Hon. William Samoel Ruto was declared the winner of the presidential elections and was sworn in as the president of the republic of Kenya on 13th September 2022.

    World Cup Happened

    FIFA world cup was held in Qatar in the year 2022. The last African team to play was Morocco who lost at semi-finals. It was very interesting to watch all the matches. At the end, I was a firm supporter of Argentina and I am proud to say we worn😀.

    Aside cheering my best team, I learnt that world cup is a business. Everyone who participates gets paid. To appear and play at world cup, a team is paid $1.5 Million. This is aside the packages awarded to each team for reaching a certain level of the competition.

    Here is a break down of World cup 2022 price money.

    DescriptionPrice in USD
    Winner $42 Million
    Runner-up $30 Million
    Third place$27 Million
    Fourth place$25 Million
    Quarter-final $17 Million
    Last 16$13 Million
    Group Stage $9 Million
    World Cup 2022 prize money breakdown

    Bitcoin Price Dropped By 60%

    Bitcoin is the mother of all cryptocurrencies. In the year 2022, Bitcoin price drop sent panic across the world eliciting a spike in the sell out.

    As this goes on, more and more countries have eased up on Bitcoin regulations as others issue Bitcoin licenses. This is a good sign to the cryptocurrency investors.

    According to a report by the next advisor newsletter, a recent study by Deutsche Bank found that about a quarter of bitcoin investors believe bitcoin prices will be over $110,000 in five years.

    The volatility is nothing new, and is a big reason experts say new crypto investors should be extremely cautious when allocating part of their portfolio to cryptocurrency.

    ChatGPT Was Launched

    With the entry of ChatGPT, many people are still wowed by how much an AI human trained chatbot can do(including myself). From writing a well polished blog articles to writing programming codes for apps, ChatGPT is near perfect. I have seen many people instruct the chatbot to write for them a script for their YouTube video.

    While ChatGPT is free, it can write articles based on information found online until 2020.

    You will not get the assistance on information beyond the year 2020. I have read online that ChatGPT 4 will be out in 2023. Let’s wait and see how different it will be from ChatGPT 3.

    Elon Musk Bought Twitter

    On October 2022, Billionaire investor Elon Musk acquired Twitter for $44 Billion. Following this announcement, a number of top executives, including the boss, Parag Agrawal, was reportedly fired.

    Elon Musk spoke of buying Twitter because he wanted to “try to help humanity”, and said he wanted “civilization to have a digital town square”. One of his biggest mission has been to eliminate bots on twitter.

    Since the acquisition, Twitter verified check marks now costs $8 a month. Also, one can see how many people viewed their tweets same way they see their YouTube views.

    Regulations on Digital Lenders in Kenya Began

    Central Bank of Kenya(CBK) and Kenya Data Protection and Commission (KDPC) started regulating Digital lenders in Kenya. By mid September 2022, Central bank of Kenya had approved only 10 digital lenders out of 288 applications they had received in a bid to regulate the digital lending businesses.

    On the other hand, Office of the Data Protection Commission (ODPC) in a notice dated 5th October 2022 said they were auditing 40 digital lenders whose practices regarding the processing of personal data has been raised to the data commission as complaints by various members of the public.

    If you think about it, if these steps are done right it will have a positive impact on the Kenyan digital marketspace.

    Conclusion

    A lot went on all through the year 2020. Generally, it was a tough year economy wise. We don’t know what 2023 holds for us. Let us all wait and see.

    What stood out for you in 2022?

    Let me now in the comments section below.

    If you need help to create and produce professional video content for your digital business, you can request a quote here.

    And until next time, bye bye and take care.

    Follow me on twitter @cheptiony.

  • Why Content Creation Process For Your Brand Needs To Be Continuous Activity

    Before you venture into content creation for your brand, it is important to keep in mind that there is no stopping once you start. If you are working on a budget, decide on the content you will want to focus on based on the cost.

    Now the cost for this will vary. If you are a content creator by profession, then it will only cost you your time to create the content you want. On the contrary, if you are planning to hire someone to help you to create the content, then you need to have a plan. Planning is important for any long term investment that has a recurring expense at the beginning before it reaps returns.

    Watch Video

    But the big question here is, why should the process be continuous? It’s simple. Content is for marketing a business and marketing is a continuous process.

    Its like a shop owner who opens his/her shop everyday. If they fail to do so, do you think customers will trust their business? The answer is absolutely NO.

    That is the same with creating marketing content. You have to constantly come up with content in order to build trust with your customers.

    Before I continue, here are some common useful content that you can think about creating for your brand or business.

    1. Blog posts.
    2. YouTube Videos.
    3. Social media shorts for Twitter, Instagram, Facebook & Tiktok.
    4. Graphics designs.
    5. Guest posts.
    6. Photos.
    7. Answering to Frequently Asked Questions.
    8. Technical Articles (Support Articles).

    With this said, lets now dive in and talk about some of the reasons you need to regularly create content for your brand.

    Sharing Content Regularly is Like Opening A Shop on a Daily Basis

    Online space is a completely different market aside the physical location your business is operating from. Your customers therefore need to know that you are always there for them. Having a website is the first step to getting your brand ready to venture into the new marketplace. But is that all?

    No, its not.

    According to Siteefy, every minute, 175 websites are created. You are competing with many other businesses like yours. Currently, there are 1.14 billion websites in the world.

    The only way to stand out from others is through content. Of course there is advertising which is expensive if you don’t have the money.

    happy asian woman walking with boyfriend in countryside
    Photo by Rio Kuncoro on Pexels.com

    Contents Are Lead Magnets

    One way of directing people to your business is advertising. If it’s a physical business, then available forms of advertising is on signboards or billboards. That’s the same as a well branded website. That’s not all, there are many free ways to achieve the results you desire online via content. Content is the best means to direct customers to a business.

    If you create content and people like them and find them helpful, they will be curious to find out about the source. And when they arrive at your website, they will get to know about your product. If you have an opt-in form, the will not mind sharing with your their e-mail address for updates.

    It doesn’t matter where they find the content, be it social media or SEO, the customer will be on your site because of the content they found about you online.

    Marketing Using Content is The Future

    The future of marketing a brand, company or business is in the content they share. How connected is the content you share to your business?

    Individuals should always think about this during the creation process. The only way to create and leave a lasting impressions on people is through the content you share on public.

    Content is duplicable and compoundable. Once you share your content online it remains there. The more you create the same content around a given theme, the more you gain momentum.

    In no time, there will be several keywords around business on the internet. This in turn will direct more people to your business. When more people visits your business, you grow.

    Content Can Be Used To Retain Customers

    Going by the fact that there are many businesses same as yours being set up online everyday does not mean that your customers will leave you for them.

    But think about this;

    If your customers are aware of your latest services, products, plans or see you announce changes you are making on your business online, will they have a different view of your brand or business? Of course they will and a positive one for that matter.

    Even if a customer may leave you for the competitors services or products, they will have a good memory of your business and will be back if something bad happens to them there.

    So when planning to create content, think about it as a means of retaining customers.

    Conclusion

    Whatever type of content you choose to start with, have a budget for it. Also look at the content creation process in a long term perspective. What expectations do you have from the content you create and share?

    Also, imagine how much content your customers will access talking about your business if you regularly and consistently create and share.

    More than enough right?

    What will that mean to your business?

    It will mean many things. First, you will have happy and satisfied customers.

    Secondly, the trust that your customers will have on your brand or business will be unmatched.

    Lastly, the same customers will recommend more people to your business.

    There is a lot that one gains from content in a long term.

    Do you think content creation process has to be a continuous?

    Let me know your thoughts in the comments section below.

    And if you need help to produce professional video tutorials for your tech product, you can request a quote here.

    On the other hand, if you need help to kickstart the video creation process for your brand or business you can contact me here.

    Until next time, bye bye and take care.

    Follow me on twitter @cheptiony.

  • 5 Freelance Platforms That Are Safe And Secure To Work On in 2023

    Freelancing online has been on a steady rise in the past decade and it’s showing no signs of stopping. According to industry studies, the worldwide freelance marketplace is estimated to be worth $1.5 trillion in 2022. In US alone, there is 70.4 million freelancers and is forecasted to grow up to 90.1 million by 2028.

    An average freelance hourly rate worldwide is $28/hour according Payoneer Global freelancing income report.

    5 Freelance Platforms That Are Safe And Secure To Work On in 2023

    On this blogpost, I will share with you 5 freelancing platforms that you should consider if you want to become a successful online freelancer and an entrepreneur.

    Freelancing Platforms at a Glance

    SummaryUpworkFiverrFreelancerPeoplePerhour Guru
    LocationCalifornia, United StatesTel Aviv, IsraelAustraliaUnited KingdomPennsylvania, United States
    Years of Business Operations9 years. Founded in 2013.12 years. Founded in 2010. 13 years. Founded in 2009.15 years. Founded in 2007.24 years. Founded in 1998.
    Annual Revenue $503 million $298 Million $43.1 Million $15.7 Million $374 million
    Payment Methods Payoneer, Paypal, Bank , Mpesa and more.Payoneer, Paypal, Bank , and more.Payoneer, Paypal, Bank, Skrill and more.Payoneer, Paypal, Bank , Skrill and more.Payoneer, Paypal, Bank , and more.
    Payment Processing timeFrom 1 Mins (on Payoneer) to 7 days depending on the mode of payment you use. From 5 Mins to 5 days depending on the mode of payment you use.From 5 Mins to 5 days depending on the mode of payment you use.From Few hours to 5 days depending on the mode of payment you use.Within 24 hours to 5 days depending on the mode of payment you use.
    Escrow ServicesYes.
    		Yes.
    		Yes.
    		Yes.
    		Yes.
    Payment Security Period before Withdrawal5 days from the day payment is released.7-14 days from the day payment is released.15 days from the day payment is released for first payment.

    1day for subsequent withdrawals.    		24 hours to 14 days from the day payment is released for first payment.
    		No security hold.
    Client and Freelancer Accounts Can use one account as a Freelancer, Client or Agency/Company. Can use one account as a Freelancer and Client.Can use one account as a Freelancer and Client.Can use one account as a Freelancer and Client.Can use one account as a Freelancer and Client.
    Mode of Job Acquisition – Bidding on projects posted by clients.

    – Project Catalogues.

    – Consultation Offers.

    – Upwork     Enterprise Invitations to bid.

    – Client invitations and direct hires.     		– Create service Catalogue and wait for clients to purchase.

    – Occasionally apply to job requests by clients on the platform.     		– Bidding on projects posted by clients.

    – Service Catalogues

    – Contests

    – Invitations and direct hires    		– Bidding on projects posted by clients.

    – Create hourly service Catalogue

    – Project invitations and direct hires     		– Bidding on projects posted by clients

    – Invitations and direct hires
    Potential
    Average Annual Earnings per Freelancer     		$42,000 to $120,000 From $12,000UnknownUnknownUnknown
    A Glance at Top Online Freelancing Platforms

    Upwork

    Upwork is a freelance company based in the US and has been there for more than a decade. Upwork is among the pioneers of online freelance services. Originally it was called Odesk before it merged with another premium freelancing platform called Elance to form Upwork in 2013. Elance used to have more high paying projects than Odesk before the merge. Also, Elance was the first freelancing platform to offer Escrow services on fixed contracts.

    Since the merge, Upwork has grown to accommodate all kinds of jobs. Also, their security has been heightened to protect freelancers and clients from fraud. It is reported that Upwork has more than 12 Million registered freelancers.

    Upwork offers 5 ways to find work based on the freelancers experience using their platform. The first one is through bidding. This is a situation where a client posts a job; and freelancers on the platform bid on it. The client chooses the proposal that addresses their needs and meets their requirements. They then award the contract to the winning bidder.

    The second way is though Creating project offers. The freelancer can create a project offer catalogue around the skills that he/she possesses and posts it on the platform. This will be displayed to the prospective clients. If a clients likes a certain catalogue, they will purchase it.

    The last one is through Freelancer Enterprise client invitations and Direct hires. This is where a freelancer is interviewed and hired through Upwork Enterprise. Only freelancers with Top Rating and Top Rating Plus qualify for this offer.

    Among the most competitive skills that are highly paying on the platform include Technical skills, customer service skills, digital marketing skills, creative and design skills, copywriting and more.

    You can withdraw earned income to your Paypal, Local Bank , Payoneer, Mpesa digital wallet and more.

    Fiverr

    Fiverr is a Freelance platform founded in the year 2010 with it’s headquarters is in Tel Aviv Israel. Fiverr is popular for offering every service for $5 bucks. Freelancers can post their $5 service offers in many different categories.

    Today, the company has grown and now hosts an estimated 3 million people comprising of buyers and sellers/freelancers.

    Also, their $5 service offer approach has evolved over time. Sellers can scale up their offers from $5 to $1000+ per offer depending on the service they are offering through packages/pricing table.

    Unlike Upwork, Freelancers can only post what they offer on Fiverr in a catalogue format and wait for buyers to find it through search. This means that if one spends enough time optimizing their offer, buyers will find it and they will in turn get many orders.

    With Fiverr, you can sell any service as long as it can be sold digitally.

    You can withdraw earned income to your Paypal, Bank , Skrill, Payoneer digital wallet and more.

    Freelancer

    Freelancer is an Australian freelance marketplace that was founded in the year 2009. It connects freelancers with clients across the world. Freelancer has more than 900 job categories to choose from. As of June 2022, it had over 59 million users.

    Like Upwork, clients posts jobs for freelancers to bid on. They also offer escrow services on all contracts. On the other hand, they have a special offer called freelancer design contests. Here, the client posts design contests with a set price and any freelancer can submit their mock designs. The design that the client picks is the winner. The winner is made public and is rewarded with the set prize.

    This is an ideal place to start if you are not sure of the category you will want to work in. Also, it is here that you can identify different skills that are hot in the market then learn how to do them and then look for freelance jobs on the platform.

    Freelancer offer a wide range of withdrawal methods including Paypal, bank and Skrill.

    Peopleperhour

    Peopleperhour is a UK based freelance platform. It connects freelancers and clients across different categories of skills. One can sign up as a freelancer or a client. Once your profile is approved, you can proceed to search and apply for jobs that matches your skills.

    Freelancers here also have an option to create a project catalogue telling prospective clients what they can do in a hour for a given price.

    Most clients on Peopleperhour are genuine since they are required to confirm their preferred payment methods before they are allowed to hire. They are also required to fund escrow before a freelancer can start to work on their projects. At the end, freelancers are required to proof that they completed the discussed job by coordinating their communications strictly on the platform.

    You can withdraw earned income to your Paypal, Bank , Skrill and Payoneer digital wallet.

    Guru

    Guru is the pioneer freelance marketplace with it’s headquarters in Pittsburgh Pennsylvania US. It was founded in the year 1998 and has had less hype since it’s inception. They still approach freelancing using the traditional methods of posting jobs and letting freelancers to apply them.

    Despite that, they have many long time clients across the world. At the time that I freelanced on Guru, one could easily be scammed by a new client. That has changed today.

    However, one needs to be vigilant and ensure that the client has funded escrow before they start work. All in all, freelancing on Guru offers individuals a room to get more clients. Competition by bidders on Guru on jobs posted is not that fierce.

    While competition is not that high, the number of projects to bid on here is very small. Generally, they have more tech related jobs than any other category. This is a freelancing site to bundle up with others until you find a bearing.

    Big Downside of These Freelance Platforms

    They don’t accept cryptocurrency as a payment method. This is despite the growing number of people using crypto as a digital currency. Cryptocurrency is here to stay. It is therefore something that all freelancing platforms should consider.

    Conclusion

    There are hundreds of freelancing platforms online today that you can find work on and get paid. Some platforms, specialize in providing certain services like writing, transcription, video production, design, coding e.t.c. If you want to take freelancing fulltime, consider signing up on some of them that you find suitable and begin bidding on jobs posted there.

    You never know where your luck lies. You need to keep trying until you succeed.

    Freelancing is a sustainable career that can make you up to $1000/month part time working from home.

    You only need to commit some of your time daily to achieve the desired results. I have personally made up to $5000 a month on one freelancing platform.

    And these are the 5 Freelancing Platforms That Are Safe And Secure To Work On Today.

    Which is your favorite freelancing platform and why? Share your thoughts in the comments section below.

    And if you need help to create professional content to market your business, get in touch with us here. On the other hand, if you need professional video production services, you can request a quote here or start consultation here.

    Until next time, bye bye and take care.

    Follow me on twitter @cheptiony.

  • How to Close a Registered Business Name In Kenya Online

    In this tutorial, I will show you step by step, how to close a registered business in Kenya online.

    Step 1

    go to www.ecitizen.go.ke and click on login. Enter your national ID number and password. If you don’t have an account, click on sign up.

    login or sign up on Ecitizen portal using your National ID and password

    Step 2

    Once you are logged in, click on business Registration Service(BRS). A new page will open with list of businesses you want have registered on the portal.

    Select Business Registration Service on Ecitizen portal

    Step 3

    Click on view under the actions row to the right on the business you want to close.

    Click view under the actions row as per the screenshot here

    Step 4

    On the new window, click on maintain a company.

    Click on Maintain a Company

    Step 5

    Click on make application and select ‘Cessation to close.’

    Click on make application and select 'Cessation to close.'

    Step 6

    On the new screen, select the reason for cessation and upload a copy of registration certificate. Click save and continue.

    Select the reason for cessation and upload a copy of registration certificate

    Step 7

    Download, sign and upload BN6 form. Click save and continue when done.

    Download, sign and upload BN6 form

    Step 8

    You will receive a one time password on the phone number you have registered with on the portal here. Enter and click verify.

    Verify the one time password you receive on your phone

    Step 9

    Review your information and check the box below to confirm the information you have provided is correct. Click finish.

    Step 10

    Closing your business will cost Ksh.250. Pay and confirm.

    Pay Ksh.250 via Mpesa or bank for the processing the application.

    Step 11

    You will be taken to this screen with links to download payment receipt. Also, you will see the status of your application is review.

    See your application status and download receipt of your payment.

    And that is it. You have successfully closed your registered business online. Once the review process is complete, your business will be closed.

    I hope you found this tutorial helpful. Let me know your thoughts in the comments section below.

    And if you need help to produce professional video tutorials for your software, app or website services, do not hesitate to reach out to me. Alternatively, you can request a quote on our video production website here.

    Until next time, bye bye and take care.

    Follow me on twitter @cheptiony.

  • Full Review of Digital Lending Apps in Kenya

    Today I will be reviewing 4 Digital lending apps or loan Apps that I have used. Most of the apps I will be mentioning here operate in the Kenyan marketplace.

    Disclaimer: I am writing this article based on my experiences with loan apps. None of the information shared here is sponsored by any of the apps mentioned here . So, this article is solely to educate and inform the public . Use your own judgment when deciding on which loan app to download and borrow from.

    How People Finds Themselves Taking Loans from Mobile Apps

    People have different stories on how they got to know about loan apps. Many are like me; they were in a financial distress, and they were looking for a quick fix after all their friends failed to help. They then decided to search for answers on Google. Google then redirected them to GooglePlay store where they found the solution.

    But at what price does this solution come with?

    Since loan apps have been in existence long enough, nearly all tech savy people have an idea of how they work. Some apps have evolved to suite current customers needs while others; well, are yet to be hit by the reality.

    One crucial thing that many people forget to look at when they are in financial distress is the details they give out in exchange for a loan.

    That’s why I am here to take you through some things I have learnt after using digital loan apps.

    Popular Keywords Used On Playstore

    Loan Apps, digital lenders, instant loan, Quick loan. Searching using one of these keywords will display several loan applications. With more than 50 Apps showing up, that’s a lot of Credit at Hand if you think about it.

    How you make you choices from here matters.

    How much time do you have with you to decide on the app to take loan with? In my opinion, don’t rush. Take your time. Spend a day at least to look through these apps.

    In this review, I will focus on the App UI design, Customer Data Collected, Profile Review time, Loan Processing Duration, Repay Time Frame, Fees and Customer Service.

    Tala Loan App

    Tala loan app has been there since the year 2011. I first learnt about the app in the year 2014 from billboards but had never used it to borrow a loan. Two months ago, I was propelled to try it out after the long electioneering period. So here are my thoughts so far after using the app.

    Tala Loan App

    App UI– App UI looks good and polished. What you see displayed as screenshots from the app on PlayStore is how the app looks like after signing up.

    Loan Application Process– This is where I felt a bit uneasy. More personal and business related data is required for eligibility. Also, the lender is interested to know how much money you make in a month and the frequency in which you receive the payment.

    They also want to have your National ID number. This is a lot of private data if you think about it. So you have a choice to tell the truth or lie.

    Another downside about the information you provide is; once you share the data, you are not able to access them again on the app via your profile.

    Loan Application Time and Interest Rates – When making my first loan application it took less than 5 minutes for it to be approved. I was given a starting loan limit of Ksh.3,000 which on request, I received instantly on my Mpesa. So in terms of application review and loan approval, they are excellent. Their interest rate is at 0.3-0.6 % daily which is not bad compared to others when it comes to transparency.

    Customer Service And Credit Collection– In terms of customer service, they are also above average. I was called once by their customer representatives reminding me to pay the loan on time so that my limit would increase. Other than that, I regularly received well drafted SMS reminders.

    Repayment Deadlines – While I borrowed the loan for 30 days, I had up to 60 days to repay back. No penalty was imposed on the loan I borrowed.

    Overall, this is a good app for anyone to borrow short term loans so long as they repay back on time.

    Branch App

    Branch was launched around 2015. Unlike other mobile lending apps, branch does more than offering loan to users. Users can save, pay bills and manage their finances on the go.

    App UI Design– Branch has excellent app UI design. What you see on playStore is what you get when you sign up.

    Branch App

    Loan Application Process – The process of applying for a loan is simple once you sign up with your phone number. You cannot apply for any loan unless you grant the app permissions to see installed apps on your phone, contacts, SMS and location. This is normal for most loan apps to secure your account once you login.

    When applying for your first loan, you are required to confirm how much you earn in a month. Also, you need to take a selfie and upload it as part of the evaluation process.

    Loan Application time and Interest rates – From the time I downloaded the app to the time I received the first loan, it took me 20 minutes. This is quite fast for a loan of Ksh.3400 considering I don’t have history with them. Their interest rate for 61 days is 35%. That’s about 17.5% per month. This is high compared to Mshwari loan whose charge is 8.5%. So the interest is on the downside.

    Additionally, Branch charges transactional fees to withdraw the money from the app to Mpesa.

    Customer Service and Credit Collection – Compared to Tala, branch credit collectors are a bit aggressive. They will call you once your first installment is due. They claim to use this to calculate the amount of credit you will receive next. Also they will encourage you to repay on time to qualify for a higher loan limit. In a month they called me and sent me 3 messages which was detected as spam on my phone.

    Repayment deadline – You have to choose a period starting from 30 days. If you choose 60 days, they will request that you repay them back in two installments of 50/50 after every 30 days. They insist on this, something, which doesn’t go well when you haven’t gotten the funds to repay.

    Overall, this is not a bad app for borrowing emergency loan going by the fact that they will charge you 17.5% interest on initial loans.

    Truepesa

    TruePesa promises to give people instant loans. That is true, but not that fast. You have to first have the app on your phone for 2 weeks before they give you the first loan. Secondly, the loan duration they promise in the description area on Playstore is not practical. I will be getting to that in a minute.

    Truepesa App

    App UI Design – The app UI Design is clean. One thing you will quickly note with this app is, the UI design resemble the many loan apps on Playstore where once you install, there is a slider on the launch screen with a question; How much loan do you want? For Truepesa, the slider starts at Ksh.80,000. This is mouth watering to one in dire financial need.

    So if you choose that you want Ksh. 80,000, will you get that amount? Let’s find out.

    Loan Application process – You are required to sign up with your phone number and create a secret pin. Before your do this, the app requests for permissions on your phone which includes SMS, contact list, installed apps, external storage and phone location.

    I feel this is too much considering you are taking your first credit. After you agree, it’s followed by the privacy policy. It’s important to read and understand what you are agreeing to.

    Once you agree you will be signed up. This is where the show begins.

    Loan Application Time and Interest Rates – When you sign up, they ask you few questions when applying the loan like what you do and your national ID number. After you complete the application, you will not get the loan. They want you to remain with the app installed on your phone for 2 weeks and they will be able to give you a loan.

    Imagine remaining with an app on your phone that you have granted many permissions. Very risky.

    On the other hand, if you were looking for an instant loan, this will be a big disappointment.

    I uninstalled and installed the app 2 weeks later and I still had to wait for 2 days with the app installed on my phone for them to set a loan limit.

    They have a weird credit disbursement process. For instance, if you request a loan of Ksh. 2,500, you will receive Ksh. 1,800. They will deduct their interest rates of 24% a week and send you the balance. This is 3 times what Mshwari charges their customers for 30 days.

    Moreover, their loan period is 8 days and not 61 days they promise on Playstore.

    Customer Service and Credit Collection – This guys will not contact you until the 7th day -a day to loan expiry. That’s when you will receive several scary messages like the one below.

    Screenshot of an SMS from a Truepesa Loan app credit collector

    3 days later, I had over 40 similar messages on SMS and WhatsApp. This to me is very unprofessional. That’s aside calling me more than 3 times a day using different numbers to ask me to repay their loan. Not everyone falls in this category to be intimidated. Am sure this app will only attract crooked customers who tolerates such communication manners.

    Repayment deadline – They do opposite of what they promise on Googleplay. They tell you their loan tenure is 90-365 days with APR of 14-33%. You will be in for a shock when you sign up and wait for 2 weeks. That’s the rates they will charge you in 7 days. That’s a breach of contract. Not forgetting the amount of private information they have collected from you.

    Overall, this is an app I wouldn’t recommend to anyone who is looking for a quick loan. That’s unless you are ready to be embarrassed and overcharged.

    Zenka

    I first learnt about Zenka loan app at the height of Covid-19 in the year 2020 . There was a video campaign on most social medias advertising the app.

    They promise to give you loan for a period of 61 days to 1 year.

    App UI Design – The app UI is clean and sleek. They use unique fonts in their app as well. The screenshots you see on Playstore is exactly how the app looks like when you download and sign up.

    Loan Application process – The process of applying for a loan with Zenka is easy. You only sign up and share your national ID number and phone. Next, you fill in a questionnaire before you are allocated a loan limit, a process which takes 5 minutes.

    Loan Application Time and Interest Rates – From downloading the app all through to loan approval and depositing to my Mpesa took me around 15 minutes.

    I was allocated a loan limit of Ksh.3,000 on the first loan I applied with zero interest rate for 61 days.

    This is an offer that none of the lenders on Googleplay does. Am yet to see the practicality of their APR interest they promise of 170-224%.

    Customer Service and Credit Collection– Since I I took the loan, I have received only one marketing message from them. Compared to others, this is one of the peaceful loan I have taken from an app.

    Who knows, maybe I will begin to see their true colours once the loan deadlines approaches.

    Repayment Deadline – The deadline to repay the loan is from 61 days to 1 year. This a good time for anyone to look for money and repay the loan.

    Overall, Zenka is good app that you can take loan from owing to the time period you are given to repay back. Also, the peace of mind one get while using the app is worth.

    And thats it on Loan apps.

    Conclusion

    Loan apps are here with us to stay. It’s up to you as a user to practice discipline when borrowing. Sadly, once you take a loan, you can only run away from it but you cannot hide.

    On the other hand, digital lenders have many loopholes they need to seal.

    With more negative reviews and flagging of the loan apps on googleplay, their services will risk suspension and the people who had borrowed money from them will be left celebrating they luck.

    Also, Central Bank of Kenya and Office of the Data Protection Commission is on their case in a bid to regulate them.

    Every digital lender therefore need to listen to the customer feedback and do as the customer request. Customer is the king here. For them to buy from you, respect and dignity has to be upheld.

    As I close, if you need help with video production services, you can request a quote on www.techtubestudio.com.

    Until next time bye bye and take care.

  • Digital Lenders Under Scrutiny By Central Bank of Kenya and Office of The Data Protection Commission Over Malpractices

    A lot has been going on lately around digital lending apps or loan apps as many call it in Kenya. In a move to regulate this sector, Central Bank of Kenya(CBK) have listed requirements they need digital lenders to provide in order to be licensed.

    Players in the digital lending business had until September 2022 to submit these requirements for approval.

    By mid September 2022, Central bank of Kenya had approved only 10 digital lenders out of 288 applications they received. They said the process is ongoing and will update the public once more lenders are approved.

    List of Approved Digital Lenders in Kenya

    1. Ceres Tech Limited
    2. Getcash Capital Limited
    3. Giando Africa Limited (Trading as Flash Credit Africa)
    4. Jijenge Credit Limited
    5. Kweli Smart Solutions Limited
    6. Mwanzo Credit Limited
    7. MyWagepay Limited
    8. Rewot Ciro Limited
    9. Sevi Innovation Limited
    10. Sokohela Limited

    You can find full details of these digital lenders including their contacts and location here.

    While the process of regulation by Central Bank is ongoing, the Office of the Data Protection Commission (ODPC) in a notice dated 5th October 2022 said they are auditing 40 digital lenders whose practices regarding the processing of personal data has been raised to the data commission as complaints by various members of the public.

    Public Notice from the ODP

    It’s important to note here that Data Protection (Complaints Handling and Enforcement Procedures) regulations 2021 took effect on February 2022.

    With new regulations in progress, digital lenders still have a long way to go.

    On the other hand, opportunities in the digital lending space is still huge.

    Overview of Digital Lending Services in Kenya

    So, will the regulation by Central Bank of Kenya and ODPC help protect customers from Exploitation? Yes, definitely.

    To be honest, there is a lot of unethical business practices by mobile app lenders. This going by the ratings and reviews left by customers on the google play store on each of the listed apps.

    The most popular unethical practice by loan apps is them calling customers several times a day and sending them many threatening messages even before the loan deadline is due.

    This takes me to the big question which is, why did it take CBK so long for them to move and regulate the digital lenders?

    Were they speculating first on how they operate then proceed to regulate them in order to protect the public from exploitation?

    Well, this might be true. But let’s wait and see actions that will be taken against unscrupulous operators in this market space.

    What Central Bank Want Digital Lenders To Do

    While announcing their move to regulate digital lenders serving customers in the Kenyan Market, Central Bank of Kenya listed a number of key things they need digital lenders to adhere to when issuing credit/loan. This was gazetted in a special issue of Kenya Gazette supplementary No.45. Among these key things are;

    1. Provision of credit – A digital credit provider may set borrower limits in its credit policy and the limits shall comply with any requirements prescribed by the Central Bank.
    2. Credit Collection -A digital credit provider, it’s officers, employees or agents shall not in the course of debt collection engage in any of the following conduct against the customer or any other person:—
      • Use of threat, or violence or other criminal means to physically harm the person, or his reputation or property;
      • Use of obscene or profane language;
      • Make unauthorized or unsolicited calls or messages to a customer’s contacts;
      • Improper or unconscionable debt collection tactic, method or conduct.
      • Any other conduct whose consequence is to harass, oppress, or abuse any person in connection with the collection of a debt.

    Take time to real all the regulations here.

    Do you think regulations by central bank will help protect Kenyans from preying digital lenders? Let me know in the comments section below.

    And if you need professional video production services, you can request a free quote here.

    Until next time, bye bye and take care.

    Follow me on twitter @cheptiony.