NAIROBI, Kenya, Sept 10 – Financial sector leaders have called for better data sharing and stronger links between financial platforms to help lenders access reliable information and increase access to credit in Kenya.
The call was made during the 3rd National Credit Market Convention organised by Metropol Credit Reference Bureau at Lake Naivasha Resort.
FSD Kenya CEO Rashmi Pillai said the growth of the credit market should be supported by responsible lending, consumer protection and financial stability.
Speaking at the convention, Amb. Prof. Bitange Ndemo said interoperability should go beyond connecting digital platforms, noting that financial institutions need shared standards and secure systems to allow information to move safely between platforms.
Paul Manga, Director of Bank Surveillance at the Kenya Deposit Insurance Corporation, also highlighted the role of deposit insurance and risk monitoring in maintaining confidence in the financial system.
A panel discussion on credit access focused on gaps in borrower information, limited data on customers with little credit history and the use of alternative data in lending decisions.
Metropol CRB CEO Gideon Kipyakwai said better access to reliable information could help lenders identify borrowers, price risk more accurately and expand credit access.
“Kenya’s credit-access challenge extends beyond the availability of capital. It is also driven by information gaps that limit the ability of lenders to identify viable borrowers and accurately price risk,” Kipyakwai said.
