Reprieve As President Uhuru Scraps CRB Listing On Defaulted Mobile Loans

Reprieve As President Uhuru Scraps CRB Listing On Defaulted Mobile Loans

President Uhuru Kenyatta has today scrapped all users who have been blacklisted in the bad books of CRB for defaulting on loans offered by mobile lenders.

The new directive announced during the mashujaa day 2021 celebrations is in response to the Covid-19 pandemic that has taken a toll on the economy.

“Borrowers with loans below Ksh 5,000,000 listed on the CRB from October 2020 to date will not have that listing incorporated in their credit report ending September 2022,” the president said.

This means that digital and credit-only lenders will no longer submit credit information on their borrowers to CRB.

According to a report by the Financial Deepening Kenya, at least 22 million Kenyans are struggling to repay their loans.

The survey conducted by the agency further shows that 25 per cent of Kenyans prefer digital lending apps to borrow to survive through the pandemic.


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1 Comment

  • Raymond

    01/11/2021 - 11:06

    Am listed on crb by cooperative bank for two years,will I be updated from crb after restructuring my mobile loan as Mr president ordered?

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