By Steve El Sabai
Mogo, East Africa’s leading asset financier, has launched its groundbreaking Best Price Guarantee campaign, reaffirming its position as the most affordable, transparent, and customer-centric provider of car logbook loans in Kenya. This strategic initiative seeks to set Mogo apart from competitors by offering the lowest repayment rates, eliminating hidden charges, and ensuring borrowers can access financing without undue financial strain.
The company’s commitment to flexibility and accessibility is evident in its streamlined loan application process, which leverages advanced financial technology to provide swift approvals and hassle-free disbursements. As a non-deposit-taking credit provider licensed and regulated by the Central Bank of Kenya (CBK), Mogo ensures full compliance with industry regulations while maintaining a borrower-first approach.
“Our mission is to empower Kenyans with accessible and affordable financial solutions,” said Branton Mutea, Deputy Country Manager at Mogo Kenya. “With our Best Price Guarantee, we assure customers that for the same loan amount and repayment term, they will pay less with Mogo than with any other CBK-licensed non-deposit-taking lender, provided they adhere to the original repayment schedule.”
Mogo’s advanced risk assessment models and operational efficiency enable it to offer the most competitive rates in the market, making financing more affordable for individuals seeking funds for emergencies, business expansion, or personal financial needs. Borrowers only need a valid logbook, national ID, and KRA PIN, with funds disbursed within hours.
Recognizing the increasing demand for fast and reliable car logbook loans, Mogo has also invested in an enhanced digital platform, allowing customers to apply for loans, sign contracts, and receive funds remotely. This technology-driven approach ensures convenience, efficiency, and security for all borrowers.
Market trends show a notable shift in consumer preference toward non-deposit-taking financial institutions like Mogo. According to the Kenya Financial Sector Stability Report 2023, microfinance banks are struggling to keep up with the agility and innovation of flexible lenders. Similarly, the State of the Banking Industry Report 2024, published by the Kenya Bankers Association (KBA), recorded an 8.8% decline in microfinance bank assets in 2023, marking the fourth consecutive year of decline.
This shift underscores the appeal of Mogo’s borrower-friendly terms, transparent lending structure, and competitive pricing, which continue to attract individuals seeking hassle-free financing solutions. By merging affordability, efficiency, and compliance, Mogo is redefining the financial landscape and empowering Kenyans with better borrowing options