99pc of defaulters profit from Uhuru’s CRB freeze

The Competition Authority of Kenya (CAK) has given Chike Africa the greenlight to buy all the shares of Real People. FILE PHOTO | FOTOSEARCH

Close to 99 percent of the 4.6 million loan accounts negatively listed with the country’s credit reference bureaus (CRBs) will have their data frozen following the suspension of reporting of defaults on Sh5 million and below.

Data from the CRBs show that the CRBs can only share default data from less than 50,000 loan accounts.

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Note: The results are not exact but very close to the actual.