CBK’s New Framework to remove 4.2 Million Kenyans from the CRB

The Central Bank of Kenya (CBK) has today the 14th of November 2022, announced the rollout of a Credit Repair Framework. That seeks to improve the mobile phone digital borrowers whose loans are non-performing and have been reported to Credit Reference Bureaus (CRB).The framework is expected to be implemented by commercial banks, microfinance banks and mortgage finance companies (the institutions.

Through the Framework, the institutions will provide a discount of at least fifty percent of the non-performing mobile phone digital loans outstanding as at end October 2022, and update the borrower’s credit standing from non-performing to performing. The institution will then enter into a repayment plan with the borrowers for a period up to May 31, 2023, for the balance of the loan,” read part of the statement.

The new framework will cover loans with a repayment period of 30 days or less and were offered by through mobile phones. This will enable over 4.2 million mobile phone digital borrowers, adversely listed with CRBs, to repair their credit standing with their bureau.

The total value is approximately Ksh.30 billion, equivalent to 0.8 percent of the gross banking sector loan portfolio of Ksh.3.6 trillion at end October 2022… CBK reminds the public to honour their payment obligations on their credit facilities when they fall due. This will enable them to build a good credit history based on their payment behavior and thereby obtain loans at better rates,” the statement read further.

The initiative is part of the post Covid-19 economic recovery plan and targets borrowers in personal and micro enterprise sectors.


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