Six million Kenyans, according to Metropol, a credit management company, are backlisted at the Credit Reference Bureau (CRB) for failing to pay their loans.
Sammy Omukoko, the managing director of Metropol Corporation, estimates that 19 million Kenyans are currently enrolled in the system.
Omukoko stated that 78 percent of the population is servicing their credit, while 22% of the population is in default.
Along with Creditinfo International and TransUnion, Metropol is one of the three licensed CRBs in operation in the nation.
Additionally, the Central Bank of Kenya has granted Metropol a license to offer Credit Reference Bureau (CRB) services to all Kenyan banks.
Additionally, the organization assists credit providers in managing credit risk throughout the credit life cycle in order to maximize profit, reduce default risk, and improve efficiency.
Metropol's boss made the admission two days after President William Ruto said that the Credit Reference Bureau (CRB) and other blacklists will be removed from over 4 million Fuliza defaulters starting in November of this year.
When Ruto met with representatives from the Treasury, Central Bank, Safaricom, Kenya Commercial Bank (KCB), and NCBA on Wednesday, he made the announcement.
Instead of blacklisting customers, Ruto stated, the lenders have now agreed to develop a new credit scoring system.
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