Borrower Questions Watu Credit’s Handling of Theft
A new complaint has been raised against Watu Credit after a borrower reported the company’s poor handling of a stolen motorbike case. The incident, which dates back to April 2023, involves a motorbike that was taken on loan and later stolen after being parked near the Webuye District.
Despite being fitted with a tracking device, the motorbike remained missing for over a year until it was allegedly found at Matunda Police Station.
The borrower, who is the complainant’s child, explained that both Watu Credit and the Webuye Police Station were immediately informed about the theft. However, the tracking device failed to help locate the bike, and the search was called off.
Shockingly, in early April 2025, a Watu Credit staff member informed the borrower’s family that the motorbike had resurfaced at Matunda Police Station only for the family to be told by police that they must pay Ksh 20,000 for it to be released.
Serious Questions Raised by Borrower
The borrower is now seeking answers from both Watu Credit and the police. Key questions include why the tracking system failed to locate the motorbike, how it ended up at Matunda Police Station without any arrests being made, and why a payment is being demanded for the release of an asset still under loan.
The borrower insists that since the bike was under a financing agreement, Watu Credit shares some responsibility for its security and recovery. The demand for Ksh 20,000 from the police has raised serious concerns of possible corruption or misconduct.
Watu Credit’s Troubles Keep Growing
This complaint adds to a growing list of grievances against Watu Credit. Over recent months, the company has been under public scrutiny for questionable internal practices and poor customer treatment.
Whistleblowers from within the company have exposed a toxic work environment, where staff are forced to work on weekends and holidays without any overtime pay.
Some departments, such as the Back Office Simu team, are said to be under excessive pressure with unrealistic targets and threats of termination. Employees have accused the management of using forced resignations and biased disciplinary actions to control the workforce.
CEO Accused of Ignoring Systemic Problems
Watu Credit CEO Andris Kaneps has come under fire for allegedly ignoring these systemic problems. Complaints against him include overseeing a culture of mismanagement, promoting favoritism, and allegedly giving special treatment to foreign nationals within the firm.
In addition, staff members claim there have been no salary reviews since 2020, and the promotion system is skewed. Others cite poor mental health support and abuse of power in the name of “rightsizing” staff through selective redundancies.
Customer Complaints Still on the Rise
On the customer front, Watu Credit continues to face accusations of exploiting low-income borrowers. Some Boda Boda operators claim the firm charges extremely high interest rates up to 103% trapping them in endless loan repayments. Many have also reported delayed release of logbooks even after finishing their payments.
One previous case involved Bboxx Kenya, a partner company, where customers were charged daily fees even after completing installment payments.
Regulatory Issues and Taxation Disputes
In 2024, the Kenya Revenue Authority won a case against Watu Credit that resulted in an additional tax demand of Ksh 49 million. The Tax Appeals Tribunal ruled that profits earned through subsidiaries must be taxed normally, marking a major blow to the company’s financial operations.
Questions have also been raised about the legality of hiring foreigners on visitor visas to hold key roles within the firm, which could potentially violate immigration laws and labour regulations.
A Pattern of Abuse and Evasion
As more Kenyans come forward with similar complaints, a clear pattern of abuse, exploitation, and regulatory evasion is emerging around Watu Credit. The company now faces growing public pressure to address these concerns, especially as it continues to target vulnerable groups with its high-risk financial products.
Unless serious changes are made, both internally and in how it treats its clients, Watu Credit risks losing public trust completely. The case of the stolen motorbike is just the latest example of a company that seems unwilling to take responsibility or offer real solutions.
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