NAIROBI, Kenya, Sept 28- More than 4 million Kenyans are set to be removed from the Credit Reference Bureau (CRB) in November, after President William Ruto’s intervention.
This is after the President held talks with banking officials and financial lenders.
Ruto made the announcement during a meeting with officials from Treasury, Central Bank, Safaricom, Kenya Commercial Bank (KCB), and NCBA.
Ruto said the lenders have now agreed to develop a new credit as opposed to blacklisting customers.
“I am very happy that between 4 to 5 million Kenyans will, by the beginning of November. be out of the CRB blacklist,” President Ruto stated.
“This is very important because these Kenyans have been excluded from any formal borrowing and have been left at the mercies of shylocks that exploit them.”
Some Kenyans have been blacklisted for decades. Anyone listed on CRB is barred from formal borrowing.
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