Comedian Blessed Njugush recently opened up on how a shylock he took a loan from almost stopped his career in comedy.
He shared the financial hardships he faced during the COVID-19 pandemic, specifically after his initial live show Through Thick and Thin (TTNT).
According to Njugush, TTNT left him with a substantial debt which he was struggling to pay up.
Speaking on the Convo podcast, the comedian described 2020 as one of his most challenging years due to poor planning.
Consequently, poor planning resulted in a significant setback for the TTNT show in its initial stages.
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Njugush in debt after mega show
Following the event, he found himself burdened with a KSh6 million debt that required urgent repayment with interest.
Moreover, pandemic restrictions on public gatherings prevented Njugush from organizing additional events to settle the debt.
One creditor, who had extended a KSh400,000 loan, imposed a 30% interest rate, exacerbating the financial strain that spelled trouble for Njugush’s career as a comedian.
Nonetheless, Njugush on the podcast admitted the mistake of seeking a loan from a shylock and that he did not actively consider the interest rate.
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Covid pandemic struggles
Struggling to make ends meet, a substantial portion of his earnings went towards servicing the loan’s interest.
Moreover, this was taking place while there was a decline in income from YouTube during the lockdown which did not help.
According to the comedian, he was able to renegotiate his terms of repayment with his lender.
He explained that they had agreed to waive the accumulated interest and allow him to focus on repaying the amount initially borrowed.
With Valentine’s a week away, the inaugural TTNT show took place on Valentine’s Day in 2020 and was later released on YouTube in August of the same year.
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