A third of Kenyan loan accounts are negatively listed as defaulted with the country’s credit reference bureaus (CRBs) in an economy where Covid-induced job cuts and business closures have pushed thousands of people into a debt trap.
Data from the CRBs show that the accounts negatively listed stood at 4.6 million out of the 15 million accounts, reflecting a jump from 3.2 million accounts in April last year.
