The number of loan accounts negatively listed with credit reference bureaus (CRBs) has hit 14 million, underscoring the struggles Kenyans are having with repayments.
The blacklisted accounts jumped by a significant 45 percent in the five months between August and January after the Central Bank of Kenya (CBK) lifted a three-month moratorium.
Data by Metropol–one of the three licensed CRBs alongside TransUnion and Creditinfo International —shows that the number of loans accounts in arrears for more than 90 days had jumped to 14,035,718 by January this year, up from 9,673,258 in August 2020.
14m is a very huge number considering our population, i think most banks will either overlook and grow their loan books or shrink it and die off, especially to folks who have already cleared their loans but still listed, hao watapewa. . But 14m should form a lobby group, wakuwe na chairman, they are the real hustlers ,wa lobby wapewe deputy president . 14m id holders=14m voters, @captain obvious lobby your mates mpewe at least nomination positions.
Was very surprised to see a university advertise for vacancies, they quoted chapter 6 requirements but conviniently omitted CRB clearance… Am also sure by now some financial institutions aren’t really bothered with listing…
In countries where the systems work, where our visionary leaders copied this crb shit from, you are listed for a given period of time, say 5 years, regardless of whether you paid the loan or not. On expiry of the given time your record goes back to zero from where you start rebuilding another credit profile. Hapa kwetu you remain blacklisted regardless of whether you cleared your debt or not!