When COVID-19 entered Kenya, the government asked lenders come up with cushioning ways to keep citizens going financially.
Central Bank of Kenya (CBK) received a good news from its regulated commercial banks that they'll extend repayment for loans up to 1 year and stop blacklisting borrowers with the CRB.
Digital lenders being unregulated received bad news after the CBK asked the CRB to stop doing business with them.This was a way to protect the Kenyan borrowers after the loan apps submitted the largest number to the CRB for blacklisting within a very short time.
To show the CBK and even borrowers that loan apps can also be good ,some took time and announced that they have stopped submitting names of borrowers who default on loans especially during this Coronavirus pandemic.
Here are the apps that announced not to take borrowers to CRB during this COVID-19 pandemic even if the borrowers fail to make loan repayments on time as agreed during the loan application;
- Tala
- Branch International
- M-shwari
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