President William Ruto has said that about 4 to 5 million Kenyans will be out of the Credit Reference Bureau (CRB) blacklist by the beginning of November.
Speaking during a Safaricom, NCBA Bank and KCB Group joint presser held on Wednesday at the Fairmont Norfolk Hotel in Nairobi, President Ruto noted that Kenyans have been excluded from any formal borrowing because of their CRB status.
According to the head of state, the situation has only left the poor Kenyans at the mercies of shylocks who have been exploiting them in return.
“I’m very happy that between 4-5 million Kenyans will, by beginning of November. be out of the CRB blacklist. This is very important because these Kenyans have been excluded from any formal borrowing and have been left at the mercies of shylocks that exploit them,” said President Ruto.
He however, noted that his government was not against credit listing.
According to him, the government does not want the credit listing to be an all or nothing.
Ruto said that his government supports CRBs as a mechanism of instilling financial discipline in our financial sector.
“The government of Kenya is not against credit listing or CRB facilities, in fact we support CRBs as a mechanism of instilling financial discipline in our financial sector. We do not want credit listing to be an all or nothing,” said Ruto.