Economy Inside court row to stop Uhuru CRB freeze orderThe High Court in Nairobi. The High Court has declined to stop the order from President Uhuru Kenyatta suspending the blacklisting of defaulters with loans of less than Sh5 million and sharing data of borrowers negatively listed with credit reference bureaus (CRBs). Firms such as Tala and Branch have been locked out at a time the bulk of accounts negatively listed are linked to mobile digital borrowers. Close to 99 percent of the 4.6 million loan accounts negatively listed with the CRBs have their data frozen. Data from the CRBs show that the accounts negatively listed stood at 4.6 million out of the 15 million accounts, reflecting a jump from 3.2 million accounts in April last year.

Source: The North Africa Journal December 20, 2021 07:59 UTC