Pertuity Direct
There’s an article in BD Africa about a social networking lending site founded by Kenyan, Kim Muhota. The video below is an introductory speech about the company (Pertuity Direct) that can be found on its website. Muhota’s accent is completely Americanized, which I find somewhat strange for someone who supposedly finished high school in Kenya. There’s something unauthentic about people who work very hard at completely transforming their accents, but anyway, that’s irrelevant to the larger point I want to discuss here.
So, this company is based in Pittsburgh, Pennslyvannia and I’m am curious about how it will fare in the economic climate. According to this article:
“The original idea — consumers offering loans directly to each other — was touted as a new form of financial services that removed banks from the lending process. But regulatory scrutiny prompted two key players to ally with a bank and adopt risk-management polices that exclude many borrowers — a contrast to the democratic ideal of providing credit to the masses, as once advocated“.
The company says you have to have good credit to get one of their loans, but like I said earlier, who’s looking for loans right now (even if you have good credit). The big thing now is payday loans: short-term loans provided to people with bad credit, but who’ll have to pay it back with a very high interest rate. The money for repayment is simply deducted out of one’s paycheck.
How are these p2p lenders going to compete with those kinds of online lenders who won’t demand that you have good credit?
ke,
This stuff is called private lending. He is on the right path. This is where all the big money is. Private lending is the future for many entrepreneurs needing to expand business and start up business.
I really don’t have a problem with his accent. As long as he talks sense, which he does. Speaking eloquently & good communication is an asset in building a good rapport in the Western business circles.
Which high school did he attend again ?… Since this is some real shit man..
Damn !!
kenya entrepreneur
Give credit where credit is due. If you took time to look at this guys history, he’s been working hard and has been to most of the top schools right from Kenya (i believe he was in bush) all through to the states. His idea is genius, who would’ve thought facebook or any of the other tech related phenoms would’ve become this huge; yet it took just one or two kids in a basement or garage to bring together some of the worlds most popular applications. All the major players were being too conservative or cynical (like you are) only to rush later to spend a fortune partnering with such individuals to cash in on the market. The idea is brilliant, it will face numerous challenges because of the harsh economic times – we just have to wait and see.
Not sure if you live/ lived in the states. The change in the accent comes naturally for someone who has lived in a location for a long time. The diffence is largely dependent on who you spend most time around i.e if you are primarily around the americans corporate or hood rats then you will get an accent given a couple of years.
Congrats Kim
It’s funny you ask about his accent. I live in the US and we always have this argument among friends. We used to sneer at people who talked like this gentleman.
However, over the years we have come to the conclusion that this (acquiring a ‘proper’ American accent) is a necessary tool to survive in corporate America much like carrying a Blackberry when out of the office or having a copy of the Wall Street Journal dropped in front of your door every morning.
I bet if you pulled this guy to the side and identified yourself to him as a Kenyan, he would immediately switch to his “real” accent.
Depending on where you work in America (client-facing or non-client facing position), sooner or later you will find yourself adapting to your environment out of necessity. This has evolved into an accepted survival tool among us here.
p2p isn’t new. There was a website that had a huge viral marketing campaign. Can’t recall the name. Then there is kiva.com which lost money in Kenya.
I don’t have a problem in accent. Even here in Kenya, guys working in call centers to adopt american or british. Meaning the way u tok is vital in terms of communications depending on target market.
This thing is not new even in Kenya. Google person to person loans and you will get a proper perspective. As for the accent, i’d say fake it. Its called survival for the fittest. Dont tell me you speak like the kikuyu’s based in kinoo
I dont have a problem with this guy talking in american accent to do business. I hate people in nairobi trying to impress others with this accent. Even children talk english in nairobi. Whats the deal? Are we not proud of our languages?
kenyanobserver: However, over the years we have come to the conclusion that this (acquiring a ‘proper’ American accent) is a necessary tool to survive in corporate America
Actually, Americans love the kenyan accent. They think it’s exotic and different. Believe me, you are better off keeping your “authentic” kenyan accent today. It’ll make you distinct from the pac.
R.M.
I was simply posing a question, which you didn’t want to answer. In today’s economic climate, people are wary of taking out loans especially when they don’t know if they’ll have their jobs tomorrow. So, it’s not just about this company in particular, it’s about all companies that are trying to give out loans that will have a difficult time doing it.
KE: You are WRONG… what Americans like is the “British” lilt… take a proper kikuyu & the lorring (rolling) of the Rs & Ls will confuse any American!!!
The Kenyan marathon winners are not marketable coz they do not lend themselves well to ads or publicity. One of the reasons why Michael Jordan was very popular was his articulation. Yes, he was an awesome basketball player but he presented/interviewed very well.
I would not say the same for 90% of the then basketball players who mumbled under their breath.
By the way…is there a legal framework to start a payday loans business in Kenya? This is something I have been thinking about for a time. Like starting a non-deposit taking micro-finance institution? Help…
all,
I’m really disappointed to hear some Kenyans comparing this business with some business in Kenya.
Get serious. Business in the Kenya is nowhere close to what west has to offer. I don’t think this is pay day loans is the same thing. I don’t think Kenya has tapped in this business at all. Why, Is because nobody checks credit in Kenya- Debt financing Industry is not developed. No credit check’s no nothing, just show us what you willing to put on the line.
This is private lending by person to person. Pay day loans are not the same thing.
I never used pay day loans but their concept is different. Now that you see a black dude with an accent people want to compare him.
Haters are freaking everywhere.
Remember Mukami Kinoti – KTN presenter? That’s the hubby…
He could pull it off and get to the big leagues. I’m looking forward to the IPO. Let’s not hate on him coz we won’t quit our “safe” jobs.
COLD TUSKER:
I’ve watched our kenyan athletes answering questions after winning marathons. Most of them are very incoherent. I’ve always maintained that they should just speak or answer in swahili and leave it to the reporter to get it translated.
mzeiya: Kenyan athletes are a problem for marketers… coz it is about money… How do you roll out a guy who won the marathon but can’t answer questions…?
That said… the next generation of Kenyan runners will do much better. Sports is the only thing that I am proud of in Kenya.
The politicians? Hell no…
Ke,
I don’t know why but i still have to tell you this….
The fact that the accent was the first thing that bothered you just says of what kind of person you are.
Smart people will see the content of the talk. I know you know what I mean- get over it…..
I got friends who got some weird tribal accents I can’t even emulate… but they got some hot girls….using it…
I don’t hate on them because they are from the village or because they come from Somalia or Sudan. In fact, when a brother has that much confidence…
I always give them a pat in the back. But again that’s just the way i look at it….
Don’t you think having a tribal accent helps pick up girls ?
I know it does i’ve seen it in real life buddy.
I do agree with most of you about the accent, u have to use if as a survival tool and anyway most of the time if u speak like ud normally, the response u get is “sorry” “what did u say?” when am with americans i try and speak like them so they can understand me and i reduce my frustration by not repeating myself a hundred times, and when am with my fellow kenyans am kenyan…am actually appreciatiating my kenyan tongue more than i did when i was back in kenya, even my own dad in his native muranga kikuyu accent has to try and speak like them to get thru the day…
Update:
http://www.p2plendingnews.com/.....-suddenly/
Anon:
Well, isn’t that interesting. I’d like to know what happened to this company or this idea. That would be an interesting case study. What do you think happened?