The Central Bank of Kenya (CBK) locked out 624 digital lenders and credit-only providers from sharing information on loan payments and defaults last year in the wake of customer complaints.
Fresh data shows that Kenya had 1,994 third-party data providers allowed to share borrowers’ loan defaults and payments with Credit Reference Bureaus (CRBs), a 23.8 percent drop from 2,618 firms licensed the previous year.
