Sharp Daily
No Result
View All Result
Monday, October 6, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Relief For Small Businesses As Government Promises Reforms On CRB Listing

Cynthia Mungai by Cynthia Mungai
September 14, 2022
in News
Reading Time: 2 mins read
Loans CRB

[Image/ Courtesy]

President William Ruto’s administration has announced intentions to modify the credit information exchange system in a bid to reduce the cost of loans for micro and small businesses.

This comes at a time when data indicates that at least a third of Kenyan loan accounts are negatively listed CRBs.

“Our starting point is to shift the credit reference bureau (CRB) framework from its current practice of arbitrary, punitive, and all-or-nothing blacklisting of borrowers, which denies borrowers credit. We will work with credit reference bureaus on a new system of credit score rating that provides borrowers with an opportunity to manage their creditworthiness,” Ruto said during his inaugural speech.

How SMEs Contribute To Economic Growth

RELATEDPOSTS

Business and finance concept

CRB’s database surges, with 21 million Kenyans now listed

September 14, 2024
CBK reinstates transaction charges

CBK Frees 4.2 Million Kenyans From Negative CRB Listing

November 15, 2022

This occurs only a few days before the year-long suspension of the negative listing of debtors with up to Ksh5 million in arrears under former President Uhuru Kenyatta’s administration comes to an end.

For these defaulters, the grace period expires on September 30. The directive prohibiting the reporting of loan failures, according to lenders, has made it difficult to implement the differentiated lending framework on mass market loans because it prevents them from using the credit reporting system.

The likelihood that millions of Kenyans will be able to borrow additional money to expand their businesses or for projects has been jeopardised by the rising number of loan accounts that have been banned.

Despite the government having banned the blacklisting of defaulted loans below Ksh1,000 from April to December of last year, the majority of the new listings are for mobile digital loans.

“To implement all these interventions, we shall establish a ministry of Cooperatives and SME development mandated to ensure that every small business has secure property rights, access to finance and a supportive regulatory framework,” said President Ruto.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

New Hurdle in Spire-Equity Deal Over Resignation In Board

Next Post

List Of Billionaires Who Attended William Ruto’s Inauguration

Cynthia Mungai

Cynthia Mungai

Related Posts

News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025

LATEST STORIES

The Role of Micro-Pensions Plans in Kenya

October 3, 2025

Understanding the link between international aid and cooperative finance stability in Sub-Saharan Africa

October 3, 2025

Kenya Pipeline Company IPO

October 3, 2025

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025

Kenya’s Regulated SACCOs Cross Trillion Shilling Mark

October 2, 2025

Post-September review: What CMMF did and what’s next

September 26, 2025

Strengthening water utilities through efficiency and accountability

September 26, 2025

Retirement Benefits Schemes Trustee Governance in Kenya

September 26, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024