In a stunning development that has left many Nairobi residents talking, a feared loan shark operating in the Eastlands area has shut down his operations after one of his long-time debtors reportedly walked away debt-free.The lender, who has been in the business for over a decade, was known for aggressive collection tactics and intimidating methods that kept his borrowers under constant fear.
The incident began two weeks ago when a 40-year-old matatu driver known as Mzee Kevo walked into the loan shark’s kiosk and asked to clear his records. According to witnesses, he had borrowed a modest sum five months earlier but had been unable to meet the harsh repayment terms.Interest had ballooned the debt far beyond the original amount.To read more,click here.
