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Be intelligent like Mr Otieno


Mr Otieno walks into a bank in Kisumu and asks for the loan officer. He tells the loan officer that he is going to Dubai on business for four weeks and needs to borrow KShs 5,000.

The bank officer tells him that the bank will need some form of security for the loan, so Mr Otieno hands over the keys to a brand new Mercedes Benz S class 500 parked on the street in front of the bank.

He produces the log book and everything checks out. The loan officer agrees to accept the car as collateral for the loan. The bank’s president and its officers all enjoy a good laugh at Mr Otieno for using a KShs 15 Million Mercedes Benz as collateral against a KShs 5,000 loan.

An employee of the bank then drives the Mercedes Benz into the bank’s underground parking bay and leaves it there. Four weeks later, Mr Otieno returns, repays the KShs 5,000 and the interest, which comes to KShs 150.41.

The loan officer says:

Sir, we are very happy to have had your business, and this transaction has worked out very nicely but we are a little puzzled. While you were away, we checked you out and found that you are a multi-millionaire. What puzzles us is why you would bother to borrow ‘KShs 5,000’.

Mr Otieno then replies:

‘Where else in Kisumu can I park my car for four weeks for only KShs 150.41 and expect it to be there when I return?’


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