19 Jun Kangemi’s up and coming landlady – Alice Gitau upgrades her rentals
Alice Nancy Wanjiku Gitau has been a client since 2017. She has been a loyal client from January 2017. She took KES 20,000 six times befoer she was raised to 30,000, then to 40,000, then to 50,000. She has taken KES 50,000 six intervals to date. She pays her loans in an interval of 2 months. Originally all her houses were made of corrugated iron sheets. She borrowed KES 20,000 and brought down one iron sheet house to build in stone. Because she is in Kangemi, her costs were very low. It proved to be a success and she dismantled the second house. When she got to the third house, she opted to dismantle the remaining four rooms and replace them with stone houses. She combined the income that she was making from the other houses with a KES 30,000 loan and it proved to be a good bet. She legally inherited her land from her spouse.
The next month, when she paid off her loan, she didn’t dismantle a full row of houses, she dismantled two houses and built them with stone. Doing this another two times.
Adding her the 10,000 had a massive impact on her bottom line. She took 40,000 twice, then she requested for KES 50,000. She has two strong guarantors who live in the same compound and have no problem with her taking the loans. Now, she has nine stone rentals, and is currently working on a new block of rentals. Clients who live in the iron sheet houses either move to the new houses and double their rent or make other arrangements.