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Thursday March 26, 2020 - President Uhuru Kenyatta issued a directive on Wednesday and temporarily suspended the listing of Kenyans who default loans on the Credit Reference Bureau (CRB).
The move, the Head of State cautioned is only temporary, to cushion Kenyans from economic effects of the coronavirus.
The President said, he has issued a “temporary suspension of the listing in CRB of any person, Micro, Small and Medium Enterprises (MSMES) and corporate entities whose loan account falls overdue or is in arrears, effective 1st April 2020.”
The President’s directive was vague and did not apply to interest accrued and penalties on loans defaulted.
From a recent report by the CRB, more than 3 million Kenyans have been blacklisted for defaulting mobile loans.
Tala, M-shwari, and Fuliza operated by Safaricom, KCB Mpesa, Timiza by Barclays now Absa, Branch, Shika, Ipesa, Berry, Okash and Zenka, are some of the more than 50 mobile and online credit providers that the directive targeted.
The Kenyan DAILY POST