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Mobile loans crisis as 500,000 get blacklisted

Transunion Kenya Chief Executive Officer Billy Owino. [Willis Awandu, Standard]

If you took a mobile loan for as little as Sh500 and defaulted, you may fail to access a much bigger loan from a bank for a period that is as long as seven years.

Fresh data from Transunion Credit Reference Bureau shows that 500,000 people are currently blacklisted with Credit Reference Bureaus (CRBs) up from 150,000 three years ago.

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