A Kikuyu man drives into a bank in Nairobi City and asks for the loan officer. He tells the loan officer that he is going to Dubai on business for two weeks and needs to borrow 5,000 shillings. The bank officer tells him that the bank will need some form of security for the loan, so the man hands over the keys to his new Ferrari Enzo. The car is parked on the street in front of the bank. The Man produces the title and everything checks out. The loan officer agrees to accept the car as collateral for the loan. The bank’s president and its officers all enjoy a good laugh at the man for using a 2 million Ferrari as collateral against a kshs.5,000 loan. An employee of the bank then drives the Ferrari into the bank’s underground garage and parks it there. Two weeks later, the Kikuyu man returns, repays the kshs.5,000 and the interest, which comes to kshs.1310. The loan officer says, “Sir, we are very happy to have had your business, and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi millionaire. What puzzles us is, why would you bother to borrow kshs.5,000?” The Smart African replies: “Where else in Nairobi can I park my Ferrari for two weeks for only kshs.1310 and expect it to be there when I return????
Posted on: Mon, 08 Jul 2013 21:51:27 +0000
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