Sarah M

COPIED! A lawyer borrowed Ksh11 million. He repaid Ksh22 million. They demanded Ksh69 million. This is the story of Mathew Kyalo Mbobu — and it has now become one of Kenya’s most important debt rulings. In January 2021, when COVID-19 had crippled businesses, Mbobu — a respected advocate and law lecturer — needed capital. He turned to Hypac Investments Limited. The terms were brutal: → 15% interest per month → 5% weekly penalty for delayed payment → His family home as collateral Do the math: that’s over 400% annual interest when compounded. Still, he paid. And paid. And paid. A total of Ksh22 million — double the original loan. But the lender insisted: “Not enough. You now owe us Ksh69 million.” Then they moved to take his home. Mbobu took them to court. But in September 2025, while the case was still ongoing, he was shot dead by unknown gunmen along Magadi Road. Last week, Justice Moses Ado delivered the judgment — posthumously. And it’s a game-changer for every Kenyan in debt. What the Court Ruled: ✅ The loan terms were oppressive, illegal, and unconscionable. ✅ The in duplum rule applies: once interest paid equals the principal, interest stops. Mbobu’s debt was fully settled at Ksh22M. ✅ The property must be returned to his estate within 30 days. ✅ Any further claim is unenforceable — not a single extra shilling recoverable. What This Means for Every Kenyan: If you’re a borrower: → A signature does NOT mean you’ve surrendered your rights. → Courts WILL intervene on predatory loans. → Know the in duplum rule — it can save your property and life. → Keep all receipts, statements and communication. If you’re a lender: → Predatory terms won’t stand in court. → Exploiting someone’s distress can cost you the entire loan. → Secret dealings on collateral are illegal. → Fair lending is not optional — it’s the law. Rest in Peace, Mathew Kyalo Mbobu. Your fight wasn’t in vain. This ruling will protect thousands of Kenyans from financial exploitation.

Bitcoin is at a DISCOUNT! 🥳 This is the best time to save. 💰 Create your account on Bitsacco, buy a share, and start saving! 🤑⚡️ Learn why 👇 [A THREAD 🧵]