List of mobile loan apps barred from accessing CRB services
By Sara Okuoro
| April 20th 2020
Central Bank of Kenya Governor Patrick Njoroge last week barred a number of mobile-based lenders from using the Credit Reference Bureaus (CRBs), denying them a critical tool in assessing creditworthiness of a potential borrower.
Besides unregulated mobile-based lenders, Central Bank of Kenya CBK also withdrew the approvals granted to unregulated credit-only lenders as third party credit information providers to CRBs.
“The withdrawal is in response to numerous public complaints over misuse of the credit Information System by the unregulated digital and credit-only lenders, and particularly their poor responsiveness to customer complaints.
Thus, unregulated digital and credit-only lenders will no longer submit credit information on their borrowers to CRBs,” said CBK in a statement.
This is a blow to hundreds of fintech credit providers such as Branch International and Tala, which had become household names with nearly every functional smartphone in Kenya having a digital lending app.
List of mobile loan apps that have been barred from accessing CRB services.
8. i-Save Mobile
9. Lendi mkopo
10. Okoa Cash Loans
11. Fuliza Branch
15. Kopa Jirani
17. Zash Loan
19. Kava Personal Loans
21. Palm Loans Kenya
22. Afrika loans
23. Mshiko Chap
24. Kenya Quick Loan Shop
27. MKash Bee
29. Peso Loans
31. Hela Pesa
32. Eazzy Loans
33. Fululiza Senti
39. Fair Money
40. Lendy LOANS
41. Umba (Formerly Mkopo Kaka)
43. Okoa 0% Interest Loans
44. Kash Pesa Loans
45. Fair Branch: Instantly and Accuracy
46. Top Loan Lenders
47. HiCash Quick and Easy Loans to MPESA
48. Loans Chap Chap
49. Izwa Loans
50. Fintech Loans
51. Imarika Credit
53. Okolea Quick Loans
55. Okoa Pesa pap
56. Kenya Quick Loans Market
57. Instant Cash- Reliable Money
64. Phedha Loans
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