After M-pesa, M-Shwari is probably the biggest financial invention in Africa ever. 

It is currently the second largest bank in the country, and it’s on its way to becoming the industry leader.

With M-Shwari comes the ease of acquiring loans without one ever visiting a bank physically. Many may have thought they could dodge the M-Shwari system given its simplicity of application. But woe unto you if you get blacklisted by CBA, the franchise partner of the product.

One usually gets blacklisted after they’ve not cleared their loans within the first three months of issuance. After that, the defaulters are locked out from ever accessing Okoa Jahazi or M-Shwari loans, even if they do manage to repay their loans. But the woes do not end there.

CBA forwards the names of defaulters to the Credit Reference Bureau. This means that a defaulter is barred from accessing a loan from any financial institution for a period of five years. Yes, you read that right. Meaning, if you defaulted today, the next time any bank gives you a loan will be in somewhere near 2020.

Pay your loans guys, pay your loans.