More than 16 million Kenyans have information stored in credit reference bureaus (CRB). This data includes information on persons who have functional and dysfunctional facilities.
Only 4 million of the 16 million Kenyans identified on CRB have been negatively "blacklisted," while the remaining 12 million are unaffected.
It is significant to remember that although everyone on CRB has a negative listing, not everyone with a credit facility is on CRB.
Speaking to Kenyans, Kamau Kunyiha, Regional Manager East and Southern Africa at Creditinfo Group, said that being on the CRB should be promoted since it acts as a personal credit CV that might speak on your behalf if you don't have enough collateral for the lenders.
"The sole impartial source of information about your character with regard to borrowing is the credit bureau. In light of its importance, you should treat it with the same level of care as your resume. You can access it whenever you need to view it, and you are entitled to one free copy each year. Look it over and make sure the information provided by the lenders is accurate.
Kunyiha continues by saying that the CRB report is a record of how people are handling their credit, thus having a record is preferable to worrying about being listed.
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