TV host Larry Madowo has revealed he was once a bank employee.
In his weekly Front Row column for the Nation, Larry wrote of his time at Equity Bank as a loans salesman. It was just before he turned 20 and he calls it his worst job to date.
“A few months before I turned 20 years old, and beset by poverty, I took what is still my worst job to date. I was hired as a customer advisor for a major bank, a deliberately misleading title for a glorified hawker of the bank’s loans and credit cards.”
Larry was commenting on the President’s decision to sign the bill capping bank interest rates.
He continues to reveal how Equity had hired an ‘army’ of sales representatives to sell loans to their customers.
“I was among an army of sales representatives charged with finding new customers as well as cold-calling existing ones, telling them they had been ‘pre-approved’ for a credit card or an unsecured loan.
We were so many, that we were housed in two buildings with entire floors to ourselves.”
However, just a few months after joining the bank, Larry quit the job after realizing how bad he was at it. “I was so bad at being a banker at the tail end of the food chain, which I quit after four months. Before they fired me. Ironically, I ended up as a business reporter just a year later, covering the same industry I failed in, after selling products that nobody wanted.” he writes.
The NTV presenter went on to condemn the banks for frustrating customers, applauding the new law as it will start to rein in on that.
“Kenyan bankers treat customers like necessary evil, annoyances that they have to pretend to please because the benefits of their jobs are really great. The new directive that controls interest rates will begin to remind them who they’re really working for – the consumer.
It is a shame that we need a law to force Kenyan banks to be more responsive to customer needs.”