Workers and businesses have defaulted on loans worth Sh53.95 billion since the onset of coronavirus restrictions in March, paving the way for blacklisting of thousands of borrowers with credit reference bureaus (CRBs) from January.
Data from the Central Bank of Kenya (CBK) shows that non-performing loans (NPLs) rose to Sh403.9 billion in October, up from Sh349.9 billion at the end February — the sharpest eighth-month increase in recent history.
