Financial sector leaders have called for stronger trust infrastructure, responsible data-sharing frameworks and greater interoperability to address information asymmetry and expand access to credit in Kenya.
The call was made during the opening of the National Credit Market Convention in Naivasha, convened by Metropol Credit Reference Bureau.
Delivering the opening keynote address, FSD Kenya chief executive Rashmi Pillai highlighted the importance of effective governance and market development in building stable and inclusive credit ecosystems.
She noted that sustainable credit market growth requires institutions to balance innovation with consumer protection, responsible lending and financial stability.
In the Convention Foundation Address, Prof Bitange Ndemo challenged the industry to look beyond technical connectivity when considering interoperability.
He emphasised the need for shared standards, trusted digital infrastructure and institutional collaboration to enable financial information to move securely and responsibly across platforms.
The day also featured a panel discussion titled “Does Kenya Have a Credit Access Problem? A Look at the State of Trust and Risk in Kenya,” moderated by Metropol CRB chief executive Gideon Kipyakwai.
The panel examined the structural constraints affecting credit access, including fragmented borrower information, limited visibility of thin-file customers, conservative risk assessment and the exclusion of alternative financial data from conventional underwriting models.
The discussion highlighted the opportunity to supplement traditional credit information with consent-based data from digital payments, trade-credit relationships and other verified economic activities.
This would provide lenders with a more comprehensive view of borrowers, strengthen risk-based pricing and improve credit decisions without compromising data privacy or responsible lending standards.
“Kenya’s credit-access challenge extends beyond the availability of capital. It is also driven by information gaps that limit the ability of lenders to identify viable borrowers and accurately price risk,” said Kipyakwai.
“A trusted and interoperable credit ecosystem can reduce information asymmetry, improve borrower visibility and enable more inclusive credit decisions.”
Director of Bank Surveillance at the Kenya Deposit Insurance Corporation Paul Manga addressed the role of deposit insurance in strengthening market confidence and financial sector resilience.
His presentation underscored the importance of effective risk surveillance, depositor protection and credible resolution frameworks in maintaining public trust in the financial system.
The meeting reinforced the need for closer collaboration among regulators, financial institutions, credit-reference bureaus, fintechs and technology providers.
Participants called for clear governance frameworks that support data portability, consumer consent, market competition and the responsible use of emerging technologies.
The discussions demonstrated that strengthening Kenya’s credit market will require more than digitising existing processes. It will require an integrated market infrastructure that allows trusted information to be used responsibly in expanding access to credit, improving portfolio quality and supporting sustainable business growth.
