Metropol Credit Reference Bureau (CRB) Limited has compiled credit data on over 21 million Kenyans and 800 businesses, with 14 million currently identified as active borrowers.
Chief Data Officer Edna Mulwa reported that the number of individuals and businesses listed with the CRB grew significantly from 12 million to 21 million during the COVID-19 pandemic in mid-2020.
Mulwa emphasized that data collected from 2,500 institutions has enabled lenders to customize credit products based on borrowers’ risk profiles. She also mentioned that the organization has automated its system to expedite the removal of individuals from the CRB list once they have settled their debts with Saccos or banks, achieving near real-time updates.
“The official timeframe for removing the names of borrowers who have cleared their payments is 48 hours, but Metropol does it almost instantly,” she stated.
Speaking in Nakuru after a two-day workshop with finance organizations in the South Rift Region, Mulwa highlighted how research and analysis of borrower data have helped institutions gain a better understanding of credit risk and default trends. During the event, Metropol CRB shared insights and data specific to the South Rift Region, covering loan performance, individual credit behavior, CRB regulations, data privacy, and default trends.
The meeting brought together senior Nakuru County Government officials from the Cooperatives Department, 20 Sacco heads, 10 branch bank managers, and officials from the Kenya National Chamber of Commerce and Industry, among others.
Metropol CRB Chief Executive Officer Gideon Kipyakwai emphasized that the organization aims to demonstrate how the information in its database can enhance lending services.
“A financial institution can always refer to Metropol CRB’s database to assess borrower ratings, and this information can be used to guarantee loans for borrowers,” he explained.
Kipyakwai also noted that the threshold for listing borrowers with CRB was revised in 2020, setting it at Kes. 1,000 and above.
In response to concerns about individuals being listed for debts as low as seven shillings, he clarified that Metropol CRB has evolved into a comprehensive credit profiling entity aimed at empowering more borrowers to access financing on favorable terms.
