Mogo Unveils Best Price Guarantee to Offer Kenya’s Most Affordable Logbook Loans
(L-R) Mogo Product Marketing Manager for Car Log book Loans Valerie Zenata with Mogo Customer Joseph Ng’ang’a and Mogo Deputy Country Manager Branton Mutea at the launch of The Best Price Guarantee Campaign Launch.
Mogo, East Africa’s leading asset financier, has launched its Best Price Guarantee campaign, reinforcing its position as the go-to provider for affordable and accessible car logbook loans in Kenya.The initiative aims to set Mogo apart from competitors by offering transparent, customer-friendly loan terms that alleviate financial burdens often associated with high-interest lenders.
As a non-deposit-taking credit provider licensed and regulated by the Central Bank of Kenya (CBK), Mogo utilizes cutting-edge technology to streamline the loan application process, ensuring efficiency and convenience for borrowers.
Fast, Hassle-Free Loans with Transparent Terms under the new campaign, Mogo promises fast approvals, flexible repayment plans, and no hidden charges. To qualify, applicants only need a valid logbook, national ID, and KRA PIN, with funds disbursed within hours.
“Mogo is committed to making financing easily accessible to Kenyans, with a vast branch network ensuring that customers across the country can receive financial support when they need it most,” said Branton Mutea, Deputy Country Manager at Mogo Kenya.
Through the Best Price Guarantee, Mogo assures customers that for the same loan amount and term, they will repay less with Mogo compared to other CBK-regulated non-deposit-taking lenders provided they adhere to the original loan schedule.
This is made possible by Mogo’s advanced scoring methods and lean operations.To further enhance customer experience, Mogo has invested in a digital platform that enables applicants to apply for loans, sign contracts, and receive funds remotely eliminating unnecessary delays and paperwork.
Growing Demand for Non-Bank LendersKenya’s financial landscape is witnessing a shift, with an increasing number of borrowers opting for non-deposit-taking financial institutions such as Mogo.
According to the Kenya Financial Sector Stability Report 2023, microfinance banks are struggling to keep up with more flexible lenders.The 2024 State of the Banking Industry Report by the Kenya Bankers Association (KBA) highlights an 8.8 percent decline in microfinance bank assets in 2023, marking the fourth consecutive year of decline.
This trend underscores the growing appeal of alternative lenders that offer more competitive rates and streamlined process.
The demand for car logbook loans in Kenya continues to rise, driven by individuals seeking quick financing for emergencies, business expansion, and personal financial needs.
“Mogo is responding to this demand by offering a technology-driven approach that prioritizes affordability and accessibility while ensuring full compliance with CBK, Credit Reference Bureau, and Digital Credit Providers regulations,” added Mr. Mutea.
With its Best Price Guarantee, Mogo is set to redefine logbook financing in Kenya, empowering more Kenyans with affordable, transparent, and accessible credit solutions.
