Fresh data from Transunion Credit Reference Bureau shows that 500,000 people are currently blacklisted with Credit Reference Bureaus (CRBs) up from 150,000 three years ago. ALSO READ: End of freebies as Airtel, Equitel launch mobile money feesThe number of those blacklisted has gone up due to many apps providing loans. When someone borrows from a mobile phone platform, he or she is given a 30-days period to repay the loan. The person then becomes blacklisted and cannot access another loan until he or she repays that loan. The blacklisted individuals are those borrowing through mobile and simple online platforms such as Tala, M-Shwari, KCB-M-Pesa and a host of other avenues.

Source: Standard Digital June 05, 2018 21:33 UTC