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Government Informs Digital Lenders What To Do After President Uhuru's CRB Order

The government has opened up on the promises made yesterday by President Uhuru Kenyatta on cushioning those Kenyans listed in CRBs against being blacklisted issuing fresh details.

On Wednesday, President Uhuru while speaking during the Mashujaa day celebration ordered that financial institutions both banks and digital lenders should not blacklist Kenyans with less than 5 million due to the adverse effect of the Covid-19.

On Thursday the government has through its Spokesperson Cyrus Oguna come out open to explain what the Head of State said making a clarification.

Cyrus Oguna has said that after President Uhuru's order "the relevant authorities will, for loans less than KSh.5 million, effect a moratorium of listing in CRBs for 12 months to end September 2022.

Adding that "to foregoing measures and to accelerate our economic recovery, all banks and financial institutions are urged to accommodate customers, borrowers with loans below KSh. 5 million listed with CRBs from October 2020."

And that "those who seek to restructure their banking facilities to date will not have that listing incorporated in their credit reports for the next 12 months, ending September 2022

To the digital financiers like the Tala, Timiza and Branch, Cyrus Oguna has said that "Digital financial services; In recognition of the importance of digital financial services, especially to the small scale traders and the household at large, the National Treasury to engage all digital payment providers with an aim of deepening and expanding the use of digital payment channels.

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Cyrus Oguna Mashujaa Uhuru

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