+254780168178 corporate@amazingkisumu.co.ke
BankingUncategorized

Money matters and sinking banks.

39views

The tragedy of being a Kenyan right now is that we have the memory span of a warthog. We forget way too fast. Especially the issues that matter most. Granted we are a force to reckon with on twitter, Nigeria and South Africa know not to mess with KOT. We tweet so vehemently and f fiercely we bring governors out of the warmth of their offices to the cold and cruel front. Yaay good for us. But we have failed to realize that retweeting and quoting tweets does not necessarily solve the issues we so passionately type about.

In my experience any corporate that operates sans social media is a body rowing in the desert. It’s just not happening. Social media is a global force and anyone in business who so chooses to ignore this fact is in need of an instavention.

Take for instance the Chase Bank fiasco.

It started on twitter. Usually when the image of a corporate is threatened on twitter, they are fast to hire a certified sarcastic millennial to surpass the wit in any accusations or allegations leveled against them. When the news about Chase possibly going down hit the interwebs, nobody on their platforms raised a finger and that should have been our red flag. See chase was a bank for a certain caliber. I’m not saying this out of sheer speculation. I work in Kileleshwa  where there are several branches of Chase Bank.

I have seen the clientele and I can confirm Njoro wa mayai doesn’t  bank there.

What’s even more suspect is the fact that nobody in the banking sector is taking advantage of this collapse. Calm down its nothing personal, it’s the nature of business. When an undoubted competitor is going down, it’s a marketing strategy to fuel the sales campaigns and possibly nub the distraught customers with promises of better services. Now I’m not saying when your competition goes down then pop champagne. There’s always a chance they will get back up. But in the banking industry this is a ripe time to throw yourselves in the arena and land this hovering clientele. We haven’t seen KCB or cooperative or any other bank make a move at chase people at all. Maybe they were cool with chase bank so they are just but exercising their loyalty. Being there for their boy when he needs them the most. Tell that to the marines.

The reality is we now operate in a bandit economy and the banking institutions have lost confidence in themselves.

Of the myriad of reasons that have led to three banks put under receivership in under three years, no bank can confidently say we stand alone at a time when our peers have lost course, you trusted us with your money and we purpose to safeguard your toil. Their credibility is in jeopardy, a severity of dented reputation and a possible fear of being next in line. Methinks anyway. Just how safe is your money.

And what is this nonsense about calling the president into every situation? I realize that the economy and its wellbeing, or lack thereof lies squarely within his purview of jurisdiction. But he did his part and appointed a working CBK governor.

Mama mboga hajafungua, Mr PResident. The sun is too hot, Mr president. You were left at the altar, Mr president, your classmates farted, Bwana rais. Githeri haina chumvi, Serikali.

Stop that nonsense and allow CBK governor to work on this. If he fails at his job and nobody is brought to book over the Chase Bank saga, then we can ask the big guy why he appointed a boy to do a grown man’s job. Until then, keep calm and contemplate, spare a thought for the employees, depositors and suppliers of Chase Bank and exercise some decorum on social media. It’s deeper than funny memes and a litany of hash tags.

Ni hayo tu 🙂

Have anything else to add? Write it below:

Top Reviews

Video Widget

gallery