At least 4 million Kenyans will be withdrawn from the CRB by November-Ruto
“I am feeling happy that my fellow Kenyans between four and five million will be removed from the CRB listing,” Ruto stated.
President William Ruto announced that at least four million Kenyans will be selected from the Credit Reference Bureau list.
Speaking at a joint press conference with the CEOs of Safaricom, KCB and NCBA, Ruto said the work would be done by November.
Ruto said the move was important because many people were excluded from formal loans.
“I am very happy that between four and five million Kenyans will be off the CRB blacklist by early November.”
“This is very important, 4 million Kenyans have been excluded from formal credit due to blacklisting. With Shylock’s help, they have been rescued.”
He called on credit bureaus to hurry up the road to avoid trouble, and said the defaulters listing model should be changed.
The kenyans have request you Governor to explain to the CRB people in the room that we need to change the list model so that we do something and that borrowers do not lose out fairly, he said.
However, the president did not specify the categories of defaulters that will be removed from the CRB.
The President said that the government is not opposed to the credit list but supports the CRB as a mechanism to foster financial discipline.
I want to state here that the Kenyan government is not go against the credit registries or credit bureaus, in fact we support CRB as a mechanism to introduce financial discipline in our financial sector.
Ruto during his campaign period while asking people to vote for him and his alliance he had promised Kenyans that he was going to speak with the Credit regulations Bureau so that those who are currently in CRB listing can be removed and be allowed to borrow more and expand their businesses in order to stare economy of the nation.
