Mogo has been drawing attention in Kenya, and not for the right reasons. Many Kenyans are raising tough questions about the company, from who really owns it, to whether it respects Central Bank of Kenya rules, and why so many borrowers end up stuck in endless repayment struggles.
The company operates under the name Mogo Auto Limited, but in reality, it is just a branch of Eleving Group, a fintech giant from Latvia.
This foreign ownership may look impressive on paper, but it also means decisions are made far away, with little concern for the daily struggles of Kenyans who borrow through Mogo.
The company claims to be modern and customer-friendly, but the experiences of borrowers tell a very different story.
https://www.facebook.com/share/1BD8NwRXtB/For years, Mogo operated without proper licensing from the Central Bank of Kenya. It was only in 2024 that they finally received their digital credit provider license, long after CBK had warned against unlicensed auto-financing companies.
While this stamp of approval might have given Mogo some legitimacy, it did not wipe away its past misconduct or guarantee a change in behavior.
Not long after the license was issued, the Competition Authority of Kenya fined the company more than 10 million shillings for misleading customers and secretly altering loan agreements.
These actions forced borrowers to pay more than they had agreed, a clear sign that the company’s focus is on squeezing money out of people rather than supporting them.
Borrowers often start with what looks like an easy deal: get a car or logbook loan with minimal paperwork and quick approval.
But soon after, they face hidden fees, outrageous interest rates, and collection tactics that leave them feeling trapped. Missing just one or two payments often leads to the repossession of vehicles, even if the borrower has already cleared most of the loan.
The cycle is ruthless. Social media is full of stories from Kenyans warning others about Mogo’s tactics, describing them as nothing short of predatory.
Some have even shared that their financial struggles deepened after turning to Mogo, instead of finding the relief they hoped for.
What makes matters worse is that Mogo does not just target car buyers. It has gone after boda boda riders and small business owners, groups already vulnerable due to limited access to credit.
By promising quick loans and easy repayment, the company lures in people who have little choice, only to crush them with debts they cannot shake off.
To add to the mess, reports in 2025 showed even staff at Mogo Kenya faced harsh treatment, including severe salary cuts, showing that exploitation runs deep inside the company itself.
The reality is that Mogo thrives on desperation. In a country where many people are locked out of formal banking, companies like Mogo step in, not to help, but to profit.
Regulators may have cracked down on digital lenders, but fines and licenses alone have not changed how Mogo operates.
The company hides behind corporate structures and foreign ownership while leaving behind unfulfilled promises, repossessed assets, and borrowers drowning in debt.
Until stricter action is taken, Mogo will keep repeating the same cycle, presenting itself as a solution while preying on the very people it claims to serve. For Kenyans, the lesson is harsh but clear, behind the glossy ads and promises, Mogo remains a financial trap disguised as a helping hand.
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