CRB freeze halves digital lenders Sh2bn montly loans

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Business Daily | by Otiato Guguyu


Top digital lenders cut lending to Sh2 billion a month after the Central Bank of Kenya kicked them out of credit reference bureaus last year.

Digital Lender Association of Kenya (DLAK) chairman Kevin Mutiso said member firms were lending Sh4 billion monthly before the coronavirus pandemic hit.

Their CRB move, he said, had denied members borrower profiles to make quick lending decisions and left them without recourse on defaulters forcing them to cut loans by half…

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