I am a CRDB bank customer and a businessman.
I secured a contract worth sh 280m and approached CRDB for some financing and they asked for a collateral. I provided my house worth 320m as collateral. They approved the overdraft nine months later when the project had ellapsed and I had suffered a lot and sold some properties to get the financing I had needed. That was last year.
This year I got a contract worth 400m and applied for an in increase on the meager overdraft of 50m they had earlier approved, but it took them 4 months to reject it!
Just imagine: I have a project worth 400m on hand and a property worth 320m whose tittle deed they are holding and they can't approve a small working capital so that I can finish my project, pay them and move on!
And I laughed a lot when I heard Kimei saying they got financing from AfDB and they will use it to finance people even without collateral! Gimme a break, Kimei!