Be ready to repay loans, youths warned

Kisumu Woman Representative Rosa Buyu (center) with National Transport and Safety Authority Director General Francis Meja (left) and Chief Administrative Secretary State Department for Gender,ministry of public service, youth and gender affairs, Rachael Shebesh
NAIROBI, KENYA: Kenyan youth have been told take to loans from banks and micro-finance institutions but service them as required to avoid being blacklisted by Credit Reference Bureau (CRB).

Women Representatives Rosa Buyu (Kisumu), Beatrice Adagala, (Vihiga) and Christine Ombaka(Siaya), told the youth to be ready to repay loans.

''If CRB lists you as a defaulter then you have lower chances of being given again or qualifying for other loans if they use CRB records as clearing criteria,'' said Buyu.

She gave an example of Asset financing or simple loans, she disclosed will be harder to come by if the youth in business take loans and default on repayment.

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Gender Affairs Chief Administrative Secretary (CAS) Rachel Shebesh, Ombaka and Adagala also stressed on the concerns asking youth to take loans and service them.

''Today Banks, SACCOs, MPESA or Mshwari list defaulters on CRB, so you need to clear your name and improve your chances of getting a second loan,''Buyu said

But they won’t lend you money easily if they have every reason to believe that you won’t pay back on scheduled timelines, they told bodaboda riders in Kisumu over the weekend.

During the function,  Boda boda riders in Kisumu received 175 motorbikes from the National Government Affirmative Action Fund - NGAAF officials.

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Credit Reference BureauMpesaMshwari