Leading financial services provider Mwananchi Credit has swiftly dismissed claims that it has fired employees from its check-off loan department, clarifying that the company is undergoing a restructuring process aimed at improving service delivery.
In an internal memo, the company announced that all employees in the department have been asked to re-apply for their positions, with interviews set to begin on Tuesday. The move comes in response to persistent underperformance in the check-off loan product, which has led to significant financial losses.“Despite concerted efforts to enhance collections and strengthen financial accountability, the product has continued to underperform. Several team leaders have not met the expected targets, resulting in significant financial losses,” the memo, signed by Human Resource Manager Collins Okello, stated.
The restructuring follows a series of high-level discussions, the first of which was held on February 25. During these deliberations, key concerns regarding loan collections, non-performing loans, and commission structures were raised. Despite multiple attempts to improve collections and financial accountability, the department struggled to meet expectations, prompting management to take decisive action.
Mwananchi Credit has reassured affected employees that their contributions are valued and that they will receive support during the transition. The company emphasized that the restructuring aims to streamline operations and enhance financial sustainability rather than
