President Uhuru Kenyatta has directed the removal of borrowers with loans of 5 million and below from the Credit Reference Bureau (CRB).
In his new directive issued during Mashujaa Day celebrations in Kirinyaga county, Kenyatta said the suspension will be for one year.
Kenyatta said individuals who were already listed on CRB from October last year to date, will not have the listing added to their credit reports for another year.
"I further order the National Treasury, in consultation with all stakeholders, to secure the following additional measures to provide further space to the recovery of MSMEs: a) the relevant authorities will, for loans less than 5 million, effect a moratorium of listing in CRBs for 12 months to end September 2022," said President Kenyatta.
"b) Further, borrowers with loans below 5 million listed with CRBs from October 2020 to date will not have that listing incorporated in their credit reports for the next 12 months, ending September 2022," added Kenyatta.
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Kenyatta said the move will give the SMEs a reprieve as they try to rebuild from the effects of Covid-19.
During the event, the head of state also directed the lifting of dusk to dawn curfew with the immediate effect.
"I hereby order that the nationwide dusk to dawn curfew that has been in effect from 2020 be vacated with immediate effect," President Kenyatta announced.
Similarly, Kenyatta directed the Ministry of Education, Interior, and the National Treasury, jointly to establish a framework for the construction of over 10,000 classrooms in schools across the country to provide learning space for new one million students set to join junior secondary.