Mogo Credit, Platinum Credit, and Watu Credit, among other loan lending providers in the digital space, have landed under sharp scrutiny.
Taking to their Facebook accounts on Sunday, August 3 2025, bloggers Gordon Opiyo and Caroline Nderitu regretted that these institutions, which claim to offer financial freedom, are instead leaving thousands of Kenyans, especially boda boda riders, trapped in a cycle of debt, intimidation and despair.
Financial Traps
Opiyo, a vocal social commentator, did not hold back.
“Watched the sad story of Caroline Nderitu and her experience with Mogo Kenya. These are pure raw criminals,” he wrote. “Someone close to me took 190K from Platinum Credit Kenya and before she knew it the amount had ballooned to 700K. Many boda boda riders are in the grave due to Watu Motorbike loans.”
He called on Kenyans to resist what he termed as criminal organisations masquerading as lenders.
“If you find yourself going to these criminals after reading this wewe ni mtu bladifakin kabisa,” he warned.
Emotional Toll
Caroline Nderitu, a storyteller and businesswoman, also shared her ordeal under the hashtag MogoTrauma, outlining a chilling timeline of coercion, misinformation and emotional manipulation.
Her car, purchased through a loan from Mogo, was repossessed in what she described as a Kafkaesque nightmare.
A banner of Mogo Credit firm advising car loan product. Photo: Mogo Source: Facebook
With no warning calls or structured negotiations, she was issued a surprise WhatsApp suspension message followed days later by a physical ambush where men without formal documentation seized her vehicle.
Multiple contradictory messages followed by SMS, email and phone calls, all shifting deadlines and expectations.
“This is not finance. This is emotional extortion,” she wrote.
Across the country, thousands of young men, particularly boda boda riders, are falling victim to similar traps. With no access to affordable bank loans, many turn to quick-fix lenders like Watu and Platinum only to find themselves paying interest rates as high as 150 per cent annually. Missed payments are met with threats, stalking and often repossession of property without due process.
Consumer protection bodies have remained largely silent while financial regulators have done little to rein in these rogue lenders.
As stories like Caroline’s and countless boda boda victims continue to surface, Kenyans are now calling for urgent legal reforms, stricter oversight and a national conversation on ethical lending.
