Fuel shortage in Kenya is one of the most pressing issues in the country. Find out how the Mwananchi Credit fuel voucher system could help ease the pressure.
Easter is coming and with it a sense of dread for many Kenyans. The place where we all spend time with our families to enjoy the season is marred by the fear of finding places to fill up our cars, both privately and government-owned vehicles.
Thankfully, we are not the only ones who are facing this problem. The country is facing a shortage of fuel, which has forced truckers to refer to a backup fuel system. This means that if you want to drive your car, you have to be ready for a prolonged wait at the nearest filling station. To help ease the pressure and to make this Easter memorable for as many people as possible, you have a chance to win a fuel voucher of up to KES 5000 at Mwananchi Credit Ltd. by applying for a loan now!
What is Causing the Fuel Shortage in Kenya?
The shortage of fuel in Kenya is mainly attributed to a rise in the price of crude oil. The cost of oil has risen from as low as KES 3,500 a barrel in January to KES 6,700 a barrel in mid-April. The price of oil is a crucial factor in determining how much it will cost to produce a barrel of fuel. As demand for fuel continues to rise, oil producers are expected to increase the prices of their products in order to cover the costs of production.
In the past weeks, the price of oil has gone through several price changes with each change resulting in an increase in the oil prices at the pump. The recent surge in the price of oil has led to a shortage of fuel across the country.
Why is There a Shortage of Fuel in Kenya?
Since 2013, the prices of transport fuels have been kept at artificially low levels by the government through a subsidized blending scheme. Under the scheme, the government buys all the crude oil produced in the country and blends it with refined products. This way, the government is able to buy these products at a lower cost and sell it to the public at a higher price.
However, the recent changes in the price of crude oil have led to the discontinuation of the subsidized blending scheme. As a result, the government is no longer able to continue to subsidize the price of transport fuels. When the government is no longer able to subsidize the price of transport fuels, the suppliers are no longer willing to offer them at subsidized rates.
How can fuel shortages be prevented?
The most effective way to prevent a fuel shortage is to ensure that the demand for fuel is kept at normal levels by ensuring that people continue to commute to work, attend schools and other places of business. This will ensure that the government and businesses are receiving their normal levels of traffic.
On the other hand, if the demand for fuel is not met, there will not be enough supply to meet it. In order to prevent a fuel shortage, it is important for the government to be able to produce enough fuel to meet the demand.
Will public transport be affected by fuel shortage?
Public transport such as buses, matatus and the like, will not be affected by a fuel shortage. They operate on diesel as opposed to petrol and are not affected by price changes.
As a matter of fact, the government has already announced that it plans to buy 1 million liters of diesel each week to ensure that the buses, matatus, and others that rely on diesel are found with enough fuel to run.
How is fuel taxed in Kenya?
Fuel is taxed at 16% in Kenya. This means that each liter of fuel that is bought is subjected to an additional 16% tax.
There are also other taxes that are imposed on fuel, like the Octroi, taxes on imports and exports, excise duty on alcohol and tobacco, the motor vehicle tax, and the insurance tax.
How to Win the KES 5000 Worth of Fuel at Mwananchi Credit Ltd.
All you have to do to win a voucher worth KES 5000 is to apply for a loan at Mwananchi Credit Ltd during this Easter Season.
Mwananchi credit has customized loan products like
1. Weekend loans
This type of loan can be useful during the weekends. It is made available to clients who do not have outstanding arrears. If you need money at the weekend to meet your daily expenses, you could apply for a loan from Mwananchi Credit Ltd. You can borrow Quick Cash and repay it on the first day of the following month.
2. Top Up Loans
This type of loan is for customers who do not have outstanding arrears either. It allows you to top up the amount of your loan by KES 100,000.
3. Improve Credit Score
Mwananchi Credit appreciates customers who honor their loan repayment plan. If a client is committed to paying back the loan and comes back to us in need of more cash, we have no obligation but to approve their request.
To help our customers develop their credit history, we have a credit score system. We monitor all our customers’ behavior and we will send them a score report every month. If a customer’s score is not in the range of 80-100, we may ask them to pay the loan before they can borrow more money from us.
Mwananchi Credit has always been committed to helping the common Mwananchi with loans from KES 100,000. This is because we believe that everyone should have access to financial services regardless of their income level or where they live in the country.
How do you Apply for a Loan at Mwananchi Credit Ltd?
To apply for a loan, it is not necessary to visit us physically at any of our branches. You can just go to our website and place your application or call us at the number below: Mwananchi Credit Ltd Phone: 0709-147-000 Email: [email protected]
What are the requirements for loan application at Mwananchi Credit Ltd?
To be eligible for a loan at Mwananchi Credit Ltd, you need to be a Kenyan citizen with a valid ID card; 18 years old or older and have security that will be used as collateral for the loan facility.
How much can I borrow at Mwananchi Credit Ltd?
You can borrow up to KES 25,000,000 with a 2 year repayment period. You will pay interest at a rate of as low as 1.5%. This is calculated one month from the date you receive your loan until the date of repayment. If you need to borrow more than KES 25,000,000, we may offer you a special loan arrangement that allows you to repay your loan in installments over a long period of time.
Can I get more than one loan at Mwananchi Credit Ltd?
Yes, you can borrow more than one loan at Mwananchi Credit Ltd as long you have the ability and capability to service the loan as the amount you borrowed with your first loan.
What is the repayment schedule for my loan at Mwananchi Credit Ltd?
You can choose to pay your loan in two installments. The first installment is due on the date shown on the payment schedule. The second installment is due six months after the first installment and so on until all your repayment dates have passed. If you do not make full payment by a given date, we will charge interest on that amount at 10% per annum for the period of delay.
How much does it cost to borrow money from Mwananchi Credit Ltd?
The cost of borrowing money from Mwananchi Credit Ltd depends on how much you need to borrow and how much interest you are prepared to pay for it. For example, if you need to borrow KES 50,000 and you are prepared to pay 15% interest, then you will pay KES 5,150 for your loan.
How will I know if I won a fuel voucher?
Mwananchi Credit Ltd will choose one lucky winner of KES 5000 worth of fuel and the winner will be notified via phone.
The promotion is valid from the 28th day of March to the 31st day of March.
So, what are you waiting for? Apply for a loan today! You might win!
How do I qualify to win a fuel voucher?
To be eligible to win the voucher, you must be a customer with Mwananchi Credit Ltd and you must apply for a loan during the Easter Season. and clear all your arrears on or before Friday, March 15th, 2022.
If you are someone who travels a lot during the festive season and is worried about the possibility of running out of fuel, then this is your chance to win a voucher worth KES 5000. All you have to do is, visit any of the branches of Mwananchi Credit Ltd during the Easter season and apply for a loan.
After your application is processed and approved by Mwananchi Credit Ltd., winners will be notified by phone to collect their vouchers. Good luck!