Banks, saccos and micro-finance lenders now face a fine of Sh2 million for every defaulter they deny loans to for being listed negatively with the country's credit reference bureaus (CRBs).
This new regulation represents a fresh attempt to unlock credit to firms and workers hard hit by effects of coronavirus pandemic.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article