Kashagi : Paying Back The Loan

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This article is way way late but I felt I owed it to you to share. So I shared my experience of the Kashagi nano loan service and you can read it here : Kashagi : How Convenient Is It??? . The service is commendable but still needs to be ironed out for it to be as efficient as they advertised. Now after getting a loan the next step is to pay it back and wondered whether the process will be as tedious as the application process or its much smoother???
After two weeks had some money in my Ecocash and I decided to pay back the loan so I returned to their platform *236# and selected the option of paying back the loan. Given how Stewart Bank and Ecocash work together it should be easier to pay back the loan, they also say so in their messages.

As I began the USSD *236# service, I felt that there were too many prompts to get to the final menu and after all those clicks I got to realize that there is no part to pay the loan via Ecocash, you will receive a message saying "the bank will contact you soon!!!!". Really!!!. However had no option but wait for the message, the message came after two days, two days seriously how many will keep the funds for so long!!!.

When I went to register my iSave accout did not manage to link it to my Ecocash so it meant that I had to return to the bank to do so or go to the bank and make a deposit!!. Either way had to go to the bank because you cannot link to Ecocash on you phone. My biggest problem with this Kashagi service is I felt it would remove the need for one to go into the banking halls, maybe I had unreal expectations, but given how they marketed their service you cannot blame me for having such high expectations.


I had no time to visit their banking service and decided will let the loan pass deadline day and see what will happen. Two days before the last day of repayment the bank started sending messages reminding me to pay back the loan. Again went back to their USSD platform trying to see if the Ecocash option is now up and running and still there was no Ecocash option. 

Did nothing again and went past the deadline day. After about a week past the deadline date they garnished my Ecocash account, kept a balance there sufficient to pay back Kashagi just in case. Now my question is; given they garnished my Ecocash account why didn't they just make available an Ecocash option to begin with. Why did they make the service complicated when they have a way to make it seamless and less strenuous on the customer. That is a major flaw in their operational strategy. Convenience is everything in the financial sector...well in every business, those who offer the most simple and effective service always win.

In overall Kashagi is an innovative product/service but Steward Bank needs to restructure its operations ensuring their system gives the customer a easy and effective process. They promised the loan will be available in 60 seconds, let it be 60 seconds and not 60 seconds after 3 hrs of registering and visiting the bank. Their marketing was misleading and hope in their next product Shosholoza they deliver  as promised in their marketing campaigns. Its ultra important for you marketing department and operations department to work together and always be on the same page otherwise the product will fail.
My Overall rating of the whole Kashagi Service : 4/10.


Yours Truly

A Zimbo Who Loves Innovation.

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