Reviews
Logbook Loans Updated: 14. 04. 2026

Mwananchi Credit Logbook Loan – review 2026

4,2 / 5

Mwananchi Credit is one of Kenya's leading logbook lenders, offering vehicle-secured loans of between KES 50,000 and KES 5,000,000. The company retains the vehicle logbook as security while the borrower keeps possession and use of the vehicle during the loan period. Mwananchi Credit is regulated by the Central Bank of Kenya and operates under the Movable Property Security Rights Act 2017.

Pros

  • Quick disbursement within 24 hours of valuation
  • Borrower retains use of the vehicle during the loan period
  • Loans up to KES 5,000,000 for high-value vehicles
  • Minimal documentation compared to bank personal loans
  • Regulated by the CBK and operating under MPSR Act 2017

Cons

  • Annual interest rates are significantly higher than bank personal loans
  • Vehicle repossession risk on default
  • Loan amount limited to a percentage of vehicle value
  • Short maximum term of 36 months
  • Higher total cost of credit compared to secured bank loans

Requirements

  • Original vehicle logbook (must be in applicant's name)
  • Kenyan national ID or passport
  • Comprehensive insurance certificate
  • Vehicle must pass lender's valuation
  • KRA PIN certificate

Company information

Name
Mwananchi Credit Limited
Address
Westlands, Nairobi, Kenya
Web

Information in this review is based on publicly available sources and is for informational purposes only. Finatino.com is not a financial product broker. Before signing any contract, we recommend reading the provider's terms and conditions.