President William Ruto
President William Ruto has unveiled a plan that will see mobile loan defaulters being removed from the CRB blacklist.
Speaking on Wednesday September 28 at Norfolk hotel in Nairobi, President Ruto expressed confidence that about 4 to 5 million Kenyans will be removed from the CRB blacklist hence they will have access to more opportunities.
“I am very happy that 4 and 5 million Kenyans will by beginning November will be out of blacklisting. These Kenyans have been excluded from any formal borrowing and have been left at the mercy of shylocks and predatory lenders.’’ He said.
However, the president stated that he was not opposed to credit listing platforms and stated that they would collaborate to develop a platform that benefits all stakeholders.
“The government is not against credit listing In fact we support CRBs as a mechanism. What we are asking is we don’t want credit listing to be an all-or-nothing. We want it to be a platform where everyone is doing their best. Instead of people being in or out there is a credit rank where people can rise,” he stated.
“Instead of blacklisting, we can have a graduated mechanism. That happens even when we borrow money from IMF so it is a positive development for Kenyans,” he added.
The head of state also lauded Safaricom’s move to offer up to a 40 percent discount for all Fuliza services.
“We have agreed and I’m happy that the CEO of Safaricom has announced here that access to Fuliza the interest rate will come down by 50 percent. That is a step in the right direction and many people will benefit from this step and I’m confident we can do more,” President Ruto said.
Ruto also asked Safaricom to find ways to meet the demands of long-term borrowers, as Fuliza is exclusively benefitting only short-term borrowers.
“Fuliza is addressing a certain category of borrowers on short term. You need to think about other instruments and other facilities that should be able to take care of longer term borrowers,” the President added.
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