KENYA: LOAN SHARKS THAT COLLUDE WITH CRIMINALS TO STEAL AND SMUGGLE MOTORCYCLES INTO ETHIOPIA

On 18 March, an article from ENACT Africa came after 5 men appeared in a Nairobi court and charged with stealing 169 motorcycles, with the suspects said to be part of an organised crime group that recruited jobless youth who had an interest in getting into the motorcycle transport business, known as boda boda in Kenya.  In 2009, Kenya zero-rated the duty on motorcycles in an effort to provide employment to its youth, who use the bikes to provide public transport, and they have plugged a big gap in youth unemployment, with riders earning at least US$8.87 a day.  The scam involves the recruitment of jobless youth by unregulated loan sharks and provide them with motorcycle loan deposits that enables the youth to acquire the bike and commits them to paying the balance of over 18 months. The loan sharks then trace these loanees, organise for the motorcycles to be stolen and then smuggle them into Ethiopia over the Moyale border, leaving the youth with the loan burden.

https://enactafrica.org/enact-observer/criminals-take-young-kenyan-entrepreneurs-for-a-ride

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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