The number of non-bank firms registered with credit reference bureaus (CRBs) to start reporting credit status of clients increased by nearly half in 2018 compared with a year earlier, regulatory disclosures show. Central Bank of Kenya (CBK) had approved 2,118 voluntary data providers as at December 2018 compared with 1,434Continue Reading

The government’s move to scrap the amount payable to get the credit reference bureau clearance certificate, an employment prerequisite for fresh university graduates, is welcome. But a lot more needs to be done to meaningfully quash the hustle-rustle that ordinary Kenyan graduates endure when applying for jobs. By reducing theContinue Reading

The region’s largest lender KCB Group  has sent its digital team to Singapore to boost the development of financial technological (fintech) products that improve services to customers. The lender’s acting digital financial services and mobile banking head Alex Siboe said the mission is to inform future engagements with customers via newlyContinue Reading

Requests by banks for loan repayment reports from credit reference bureaus (CRBs) jumped nearly three-fold to 12.40 million in the race to shield lenders from defaults, especially on short-term mobile phone-based credit. Central Bank of Kenya (CBK) data shows that requests for loan reports from the CRBs rose by 181.1Continue Reading

Startups have spent the past decade trying to reinvent everything from taxis (so far so good) to squeezing juice out of fruit and vegetables (facepalm). Lately, entrepreneurs have been giving consumer debt a digital makeover. Fintech upstarts have turbocharged personal loans, now the fastest growing category of consumer debt, according to Experian. ThisContinue Reading