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Education loan demand to hit a new high – Jijenge Credit by MARTIN MWITA Jijenge Credit CEO Peter Macharia/HANDOUT
•Access to formal bank loans remains a challenge for most marginalised Kenyans, owing to the absence of collateral asked by commercial banks.
•Stress in the financial sector has soared since the coronavirus pandemic hit in March with about 70 per cent of borrowers seeking a moratorium on loans.
Demand for education loans is expected to register a record high beginning July when form one students will be commencing classes, Jijenge Credit projects.
According to the micro-lending firm, the demand will be driven by the huge number of pupils–1,179,192 candidates who sat 2020 KCPE examinations as well as the tough financial environment brought by the Covid-19 pandemic.
THE STANDARD
MONEY & CAREERS
Longest serving Newspaper Vendor James Macharia along Waiyaki Way Westlands Sub County Nairobi on April 22, 2021. He has been selling copies of Newspapers for over 63 years and recruited his Son Jackson Macharia. [Samson Wire, Standard].
There are two things Peter Macharia believes make a man: honesty and the ability to tell a good story. For more than 50 years Macharia has been a newspaper vendor in Nairobi, he says what has remained constant in his business is people’s desire to hear or read good stories.
People flock his stall and from a distance, others beckon him whenever they think the paper a good story. “When you stand by the road with newspapers in your hand and you see people peering to check the story you are selling, it makes you feel a little powerful. You know you have the story they are looking for, and it feels good,” he says.
Newspaper vendor who has sold for more than 50 years shares his story
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