President Ruto Announces Removal of 7 Million Kenyans from CRB Blacklist
President William Ruto has revealed that approximately seven million Kenyans have been successfully removed from the Credit Reference Bureau (CRB) blacklist.
Speaking during a church service in Molo, Nakuru County, Dr. Ruto expressed his commitment to enhancing financial inclusion and delivering on his promises.
“We have made that commitment come true. Seven million Kenyans who were blacklisted in CRB, all of them have been removed,” stated Ruto, reaffirming his dedication to addressing the challenges faced by the Kenyan people.
Last year President Ruto set a goal for the government to opt at least four million Kenyans out of adverse CRB listing.
He stressed the importance of this action, as it would enable individuals who had been shut out of formal borrowing to regain financial access.
“I am very happy that between four to five million Kenyans will be out of the CRB blacklist by the beginning of November,” Ruto had stated at the time.
“This is very important; 4 million Kenyans have been excluded from any formal borrowing because of blacklisting. They have been left at the mercy of shylocks.”
Ruto also emphasized the need to recalibrate the CRB listing mechanism, urging the credit bureau to consider the circumstances of those at the bottom of the economic pyramid.
He urged then Central Bank Governor, Patrick Njoroge, to work towards a more inclusive approach that would prevent unfair disadvantages for borrowers.
“Governor, please explain to our people in the CRB space that we should change the model of listing so that we do not make an all-or-nothing process and unfairly disadvantage borrowers,” Ruto appealed.
The removal of seven million Kenyans from the CRB blacklist marks a significant step towards greater financial inclusion and empowerment.
President Ruto’s commitment to this cause has provided much-needed relief to individuals who were previously marginalized due to adverse credit listings.
It is hoped that these efforts will continue to create a more inclusive financial landscape for all Kenyans.