Why we are entering the debt collection business in Kenya and EAC from UAE
Boniface Ndagwa is the Executive Director at Kalita system – Debt Holding Africa, a debt collection business headquartered in the UAE. Debt Holding Africa recently entered the Kenyan market as a springboard to East Africa. Photo | Pool
Boniface Ndagwa is the Executive Director at Kalita system – Debt Holding Africa, a debt collection business headquartered in the United Arab Emirates. Debt Holding Africa recently entered the Kenyan market as a springboard to East Africa
We primarily offer two products: debt collection under the agency scheme and debt assignment under the contract of sale. Agent scheme is a standard model of work in which the client pays a commission only on the recovered funds. Debt assignment is the acquisition of rights to the obligations of debtors to creditors. Those in this space will tell you that buying and selling overdue debts in Kenya is almost undeveloped. In my meetings with banks, managers have wondered if it happens at all. I think this could be due to Kenya's non-adherence to the Basel standards, which does not oblige banks to treat toxic assets on their own balance sheets “differently.
