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I've lost my business to loans and chamas and I’m heavily in debt. Please save me.
Avoid borrowing unless it's absolutely necessary and manageable. With patience, discipline and determination, it is possible to rebuild one's financial foundation.
My name is Owen. I had been running a small electronics shop in Laikipia County until November last year. I had hoped that I could scale up but I ended up shutting down.
My business collapsed because of debts. I was paying rent at Sh12,000 per month for the shop. I had opened the shop using my savings of Sh250,000. I had started with simple electronics. I was doing well until I started joining merry-go-rounds in the same street where my business was situated.
