Malindi Women Get Tips on Responsible Borrowing Ahead of Festive Season

By Mbungu Harrison

Email, thecoastnewspaper@gmail.com

Mogo, one of East Africa’s leading asset financiers, has stepped up efforts to promote responsible borrowing among women in Malindi, Kilifi County, through a targeted financial literacy programme designed to curb debt distress during the festive season.

The initiative focuses on equipping women with practical knowledge on healthy borrowing habits, understanding key financial terms, and managing loans effectively.

The programme aligns with national efforts to boost financial inclusion and strengthen financial capability, particularly among underserved groups.

According to Mogo deputy country manager Branton Mutea the training has already reached more than 40 women in Malindi with plans underway to expand the initiative across the county and eventually nationwide.

“In addition to the Malindi programme, Mogo has also conducted extensive financial literacy outreach across the Coast region, impacting more than 300 chairmen in the last quarter through in-person educational forums on responsible borrowing, loan management, and financial planning,” he said.

The manager highlighted the case of Ms. Linah Momanyi, a Malindi-based entrepreneur who has acquired over 50 tuk tuks through Mogo financing.

Her success story, he noted, illustrates how disciplined borrowing and timely repayment can pave the way for long-term financial stability.

Recent findings from the Kenya National Financial Inclusion Strategy 2025–2028 indicate that rising personal debt is increasingly preventing Kenyans from meeting essential needs such as food, school fees, and medical expenses.

The reports also point to a growing link between financial strain and deteriorating mental well-being.

“Financial pressure is no longer just an economic issue; it is deeply emotional, often affecting mental health in ways many people suffer in silence,” Mr. Mutea added.

He emphasized that financial literacy is a vital tool for improving financial health and reducing the mental stress associated with debt a driving force behind Mogo’s commitment to empowering communities through education.

The company, he says, will continue scaling up its outreach in the coming months as part of its mission to promote responsible borrowing and support sustainable livelihoods across Kenya.