The Rocket Pesa Loan App, a popular way for people in Kenya to borrow money using their phones, is getting a lot of attention lately. Many users are talking about receiving many annoying calls and messages from the app’s agents.
In Kenya, where many people are looking for trustworthy financial services due to tough economic times, this news is particularly relevant.
Rocket Pesa, created by CERES TECH LIMITED, provides quick loans without needing collateral.
Users can borrow between KSh 5,000 and KSh 50,000, and they have to pay back the loan in a period of 1 to 8 days. Some people think they offer business loans, but that’s not true. Another app by the same company is called Bora Credit.
The Rocket Pesa app is easy to use and can be found on the Google Play Store. It allows users to get money quickly through M-Pesa, making it a popular choice for those in need of instant cash.
However, it has a high interest rate of 24% per 8 days, which equals about 2.5% each day. This has led to debates about whether the loans are too expensive for many borrowers.
Recently, there have been reports on social media showing a more troubling side to Rocket Pesa.
Users say they are receiving constant calls and scary messages from the app’s agents, starting just a few days before they need to pay back their loans.
“They promise good things and flexibility, but once you take a loan, it feels like all they do is pressure you,” one user shared anonymously.
Another person wrote, “The agents trick you into thinking you can easily get more money, but it’s very stressful.”
This frustration is part of a bigger issue with loan apps in Kenya, where many people are unhappy with the aggressive ways these companies try to collect money.
According to Rocket Pesa’s official communication, they focus on making the loan process easy.
They say loans can be approved in just a few minutes and that customers can get help through WhatsApp at 0110428835.
Rocket Pesa, which is located on Argwings Kodhek Road in Nairobi, promotes itself as a helpful solution for people in financial trouble.
However, the large number of complaints shows a gap between what they promise and what users actually experience.
There has been a rise in searches for terms like “Rocket Pesa reviews” and “Is Rocket Pesa safe?” indicating that people are curious and possibly worried.
“I got KSh 10,000 quickly when I needed it,” said one happy borrower in a review.
The app’s rules allow it to check personal information, like contacts and text messages, to see if someone is a good candidate for a loan. This is legal, but it has raised concerns about people’s privacy.
Experts believe that the issues with user experience could affect Rocket Pesa’s rank among the top finance apps in Kenya, where other apps like M-Kopa, Branch, and Tala are also popular.
