Kenyans are set for relief after a credit reference bureau announced the launch of a new credit scoring system on Tuesday, February 18, aimed at improving access to loans.
The bureau revealed that the new tech-driven system, which will integrate micro-lending and traditional lending data, is designed to enhance access to funds, particularly for underserved borrowers.
This follows recent data showing that nearly a third of repeat borrowers in the country cannot be credit-scored, putting them at risk of being excluded from digital lending platforms.
Further data highlighted that out of the 21 million Kenyans listed on the Credit Reference Bureau, five million remain underserved despite the growing demand for loans in the country.
