President’s Directive A Relief To Millions Blacklisted With CRB

President Uhuru Kenyatta has directed the National Treasury to effect a moratorium of listing in CRBs, for loans less than Ksh 5 million for a period of 12 months to end September 2022.

This is according to a directive by President Uhuru Kenyatta who was speaking during the Mashujaa Day celebrations held in Kirinyaga County.

In his directive the president said borrowers with loans below Ksh. 5 million listed with CRBs from October 2020 to date will not have that listing incorporated in their credit reports for the next 12 months, ending September 2022.

“In addition to foregoing measures and to accelerate our economic recovery, I urge all banks and financial institutions to accommodate customers who seek to restructure their banking facilities,” urged President Kenyatta.

Digital financial services

In recognition of the importance of digital financial services, especially to the small scale traders and the household at large the president directed the Treasury to engage all digital payment providers with an aim of deepening and expanding the use of digital payment channels.