Watu Credit Limited has been absolved of any alleged malpractices and exploitation, following a thorough investigation by the Senate Trade and Industrialization Committee.
Investigation Initiated Over Complaints
In October, the Committee initiated an investigation into Watu Credit Limited. The probe was triggered by complaints of exploitation and suspicious loss of motorbikes sold to boda boda operators by the credit company.
Senate’s Verdict: No Wrongdoing
The Senate cleared Watu Credit Limited of all allegations after an extensive investigation, finding no evidence of malpractice or exploitation.
“Vide your letter dated 23rd November 2023, the Committee received your response to the information sought. At its Sitting held on 30th November 2023, the Committee observed that the response was sufficient and resolved to conclude and close the matter. The purpose of this letter, therefore, is to communicate the Committee’s resolution on the conclusion of the consideration of the above Statement,” reads a letter from the Office of the Clerk of the Senate.
This clearance reinforces Watu’s commitment to fair business practices and ethical conduct.
The investigation confirms the legitimacy of boda boda operators’ transactions with Watu Credit Limited, providing clarity and assurance for those concerned.
Senate’s decision to grant Watu Credit Limited a clearance underlines the significance of due process and fair investigation in business disputes.
The Senate’s role in promoting fairness and justice in trade and industrialization is vital for maintaining trust and integrity in Kenya’s business environment.
