In 2010, a communication plan developed through a joint project of the Central Bank of Kenya and the Kenya Bankers Association (then referred to as the Kenya Credit Information Sharing Initiative (KCISI)) was implemented with a special focus on bank staff and customers. The communcation plan objectives were to elicit greater ulitization of credit reports by lenders and borrowers, and enhance confidence in the system and the adoption of prudent borrowing practices. Following feedback from forums held in the first phase of the project, it emerged that there existed a number of myths and concerns about the CIS among lenders and customers, which led to the carrying out of a baseline survey in July 2012.
The baseline survey measured a number of indicators which targeted both borrowers and credit providers. For credit borrowers (individuals and businesses), the study focussed on
- financial services and product usage,
- awareness of CIS among individuals and businesses,
- perception and attitudes towards of CIS,
- expectations from CIS guidelines
- the role of media in promoting CIS
In regards to Credit Providers (Lenders), the report focussed on
- awareness levels amongst lending staff
- usage of credit reference bureaus
- attitudes and perceptions on CIS
- benefits of the CIS mechanism
- challenges faced by lenders
Key findings from the baseline survey informed the revision of the communication strategy implemented in January 2013 with the immediate objective being the need to increase the awareness levels and enhance a positive perception of the mechanism.
To track subsequent progress, Ipsos carried out a second perceptions survey on the CIS mechanism. The findings of this survey are contained in this report.