Tag: crb listing
In Kenya, more than 337 unregulated digital mobile lenders and micro financiers have been barred from forwarding the names of loan defaulters to Credit Reference Bureaus, a move that aims to cushion distressed businesses and households from the effects of the coronavirus pandemic. This comes at a time when the banking sector is struggling with mounting unpaid loans whose share has risen to the highest level since August 2007. Economic Analyst, Odhiambo Ramogi joins CNBC Africa for more.
Tomorrow marks the end of a six-month relief on listing loan defaulters which Kenyan Central Bank implemented as part of a stimulus package to cushion distressed businesses and individuals from the effects of the COVID-19 pandemic.