The Central Bank of Kenya (CBK) recently barred unregulated digital mobile lenders from forwarding the names of loan defaulters to credit reference bureaus (CRBs) and stopped the blacklisting of borrowers owing less than Sh1,000 after an outcry from the public.
CBK said delinking unregulated digital mobile lenders from CRBs was as a result of the public outcry over widespread misuse of the credit information sharing (CIS) mechanism “The withdrawal is in response to numerous public complaints over misuse of the CIS (credit information sharing) by unregulated digital and credit-only lenders, and particularly their poor responsiveness to customer complaints,” the regulator said in a statement yesterday.
Only banks like KCB, Co-operative Bank and NCBA Group as well as micro financiers and deposit-taking saccos I.e Mshwari, Absa’s Timiza, KCB MPESA, Equity’s Eazzy Loan will now be allowed to blacklist defaulters with CRBs in the country. These are Metropol, TransUnion and Creditinfo International.
The rest of thedigital mobile lending apps are not regulated and will not have any access to CRBs. Here is a list of these Mobile lenders:
- Tala
- Branch
- Zenka
- Opesa
- Okash
- Okoa Cash Loans
- Fuliza Branch
- Investor
- MB-Kash
- iPesa
- Kopa Jirani
- FlashPesa
- Zash Loan
- Okolea
- Kava Personal Loans
- Kua
- Palm Loans Kenya
- Afrika loans
- Mshiko Chap
- Kenya Quick Loan Shop
- Stawika
- Tajiri
- Loanika
- Saida
- Kuwazo
- Kashway
- LionCash
- Senti
- Hikash
- MKash Bee
- PesaFlash
- Peso Loans
- Carbon
- Hela Pesa
- Eazzy Loans
- Phedha Loans
- Fair Money
- Imarika Credit
- Lendy LOANS
- Umba (Formerly Mkopo Kaka)
- UbaPesa
- Okoa 0% Interest Loans
- Kash Pesa Loans
- Fair Branch: Instantly and Accuracy
- HiCash Quick and Easy Loans to MPESA
- Loans Chap Chap
- Izwa Loans
- Fintech Loans
- Pezesha
- Okolea Quick Loans
- M-KOPAY
- Top Loan Lenders
- Okoa Pesa pap
- mKopa
- tumaPesa
- Duta
- Saida
- Aspira
- Pesapata
- Fululiza Senti
- i-Save Mobile
- Lendi mkopo
- Kenya Quick Loans Market
- Instant Cash- Reliable Money
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