Economy

Tuesday February 23 2021

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The Central Bank of Kenya head office. FILE PHOTO | NMG

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By OTIATO GUGUYU


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Summary

  • 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.