Thursday, September 29, 2022 – President William Ruto, on Wednesday, urged stakeholders in the banking industry to come up with a strategy of doing away with the blacklisting of Kenyans on the Credit Reference Bureau (CRB).
Speaking after meeting officials from Treasury, Central Bank, Safaricom, Kenya Commercial Bank (KCB) and NCBA, Ruto said he requested the lenders to remove over 5 million Kenyans from the CRB blacklist by November 1 this year.
The father of the nation said the lenders have now agreed to develop a new credit instead of blacklisting customers.
“I am very happy that between 4 to 5 million Kenyans will be out of the CRB blacklist by the beginning of November. This is very important because these Kenyans have been excluded from any formal borrowing and have been left at the mercy of shylocks that exploit them,” Ruto said.
He also lauded the move saying it will give the listed Kenyans a fresh opportunity to access credit and end exploitation from what he described as “predatory lenders”
Anyone listed on CRB is barred from formal borrowing.
The Kenyan DAILY POST.
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