The number of Kenyans listed with Credit Reference Bureaus (CRB) has hit 3.2 million, a jump from the 2.7 million who were listed at the bureaus last year. Of the 2.7 million who were listed with the CRB in 2017, more than 400,000 people have been blacklisted for defaulting on loans of Sh200 and below. A total of 16.6 per cent of digital borrowers take up one loan to pay another, ensnaring them in a vicious cycle. Last month, President Uhuru Kenyatta directed that Kenyans who failed to pay their dues by April 1 should not be listed with the CRB. The directive did not cover at least 3 million Kenyans listed with the CRB.

Source: Daily Nation April 07, 2020 06:22 UTC