The Commissioner of the National Secretariat for Patriotism Corps (NSPC), Hellen Seku has sounded a warning about the dangers of quick loans, citing examples of riders who sold land to service debts.
“Bodaboda riders usually deposit 1 million shillings and get a bodaboda on a loan but end up paying sh12m, more than double the bike’s value,” she said, highlighting how hidden interest rates trap borrowers in endless debt.
The commissioner emphasized the importance of financial literacy, saving, and living within one’s means.
“Do a simple wedding that suits your income—don’t chase applause like an ice cream seller pleasing every passerby,” she advised.
Seku urged people to prioritize hard work and smart financial decisions over get-rich-quick schemes.