Kenyans, Beware of Fake Loan Offers From Facebook Page 'Mshwari Agents'

20 August 2024
Africa Check (Johannesburg)
By Dancan Bwire

IN SHORT: This Facebook page uses the name of M-Shwari, a mobile banking product, to offer quick loans. But it is an imposter.

The Facebook page Mshwari agents offers Kenyans on Facebook what it calls "soft loans" of up to KSh56,000 (about US$430).

The page uses the name and logo of M-Shwari, a mobile banking product. It was created through a partnership between M-Pesa and NCBA Bank. M-Pesa is a mobile financial service provided by Safaricom, Kenya's largest telecoms company.

The page asks interested users to contact the numbers +254101807840, +254750238136 or +254101312007. It claims the loans are available to all active M-Pesa users.

Perhaps to attract more users, it claims that there is no registration fee and assures them that it will not run a credit check on them when they apply.

But are the offers legit? We checked.

Imposter account

Although the page has over 20,000 followers, it does not link to the Safaricom or NCBA Bank websites. Instead, it encourages users to apply using the phone numbers provided. This is a clear red flag.

According to the two institutions, customers can only access the service on their mobile phones. To open an M-Shwari account, users must be registered with M-Pesa. They don't need to go to a bank, fill out any forms or contact anyone on Facebook to get a loan.

To access a higher credit limit, Safaricom advises customers to continue saving on M-Shwari and to repay their loans on time.

The page in question is fake and its offers are a scam.

Read our guide on how to spot Facebook scams here.

Read the original story, with links and other resources.
Africa Check is a non-partisan organisation which promotes accuracy in public debate and in the media. Twitter @AfricaCheck and www.africacheck.org

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