Metropol Credit Reference Bureau (CRB) Limited has recorded credit information for more than 21 million Kenyans and 800 businesses, reflecting the growing reach of credit data collection in the country.

Out of these, 14 million are active borrowers, some of whom have faced challenges in meeting their financial obligations.

Edna Mulwa, Metropol’s Chief Data Officer, explained that the number of people and businesses in the CRB's records has risen sharply from 12 million to over 21 million in recent years.

This increase includes both those with positive credit histories and those who have defaulted on their loans. The data, collected from 2,500 institutions, provides lenders with valuable insights into the credit profiles of millions of Kenyans.

Mulwa highlighted the importance of this data in helping lenders tailor their credit products based on the risk profiles of borrowers.

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She also noted that Metropol has automated its system to remove individuals from the CRB list almost instantly once they have repaid their debts.

“The official recommended time of striking off the names of borrowers who have cleared their payments is 48 hours but Metropol does it almost instantly,” she said.

During a two-day workshop in Nakuru with finance organisations from the South Rift Region, Mulwa discussed how research and analysis of borrower data has been instrumental in understanding credit risk and default trends. These insights are critical for financial institutions in developing effective lending strategies.

The workshop, which included senior Nakuru County Government Officers from the Cooperatives Departments, heads of 20 Saccos, 10 branch bank managers, and officials from the Kenya National Chambers of Commerce and Industry, focused on issues such as loan performance, individual credit behaviour, CRB regulations, data privacy, and default trends specific to the South Rift Region.

Gideon Kipyakwai, the Chief Executive Officer of Metropol CRB, underscored the importance of the bureau’s database in enhancing lending services.

“A financial institution can always refer to Metropol CRB’s database to know the rating of borrowers, the information can be used to guarantee borrowers,” he said.

Kipyakwai also addressed the criteria for listing borrowers, noting that the threshold was revised in 2020 to include debts of over.

He responded to concerns about listings for minimal amounts, explaining that Metropol CRB has evolved into a comprehensive credit profiling entity with the objective of empowering borrowers to access financing under more favourable terms.

The significant number of individuals and businesses in Metropol CRB's records highlights the importance of maintaining good credit standing, as the data influences lending decisions across the country.