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Kenya Licences First Credit Reference Bureau - Reuters
Kenya licensed its first credit reference bureau
on Thursday, which is seen eventually leading to lower commercial lending
improving credit information in the banking sector, the country's
central bank governor said.
Bank industry players also say lack of credit reference information leads to a risk of overpricing low risk borrowers and underpricing high risk borrowers.
" The risk premium that is always associated with information
asymmetry will be solved," Njuguna Ndung'u told a briefing while handing a
licence to Credit Reference Bureau Africa Limited (CRBAfrica).
" Borrowers without access of physical collateral will
always be constrained from accessing credit. Credit information sharing
enable those borrowers to build a track record that they can
use to access credit," he said.
Established in 1990, CRBAfrica also has operations in Rwanda, Malawi, Zambia and Botswana.
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