This comes after President William Ruto announced that at least four million Kenyans who were blacklisted by Credit Reference Bureaus (CRBs) will be ejected from the negative listing by November 1.
Addressing the press on Wednesday, the head of state said that CRB listing should be used to instil financial discipline, rather than an all-or-nothing affair, adding that this will help 4 million Kenyans who have been excluded from any formal borrowing and have been left at the mercies of shylocks that exploit them.
Speaking at Norfolk hotel where he met Fuliza stakeholders, Ruto said all digital loan lenters should avoid exploiting Kenyans and create a win, win situation that avoids listing Kenyans on CRB.
Ruto said digital lenders should develope a way that will ensure that mama mboga access loans just the same way bigger firms do without exploitative interests.
This came as a relief to Kenyans who have been relying on digital loans but exploited by high interest rates.
Many lauded Ruto for coming to their rescue, saying Ruto had started working and that if he continues with the same spirit, it will be easier for him to be elected in 2027.
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