Parliamentary Petition to Disband the CRB Mechanism is Retrogressive
A number of concerns have arisen about credit information sharing (CIS). Many of these are indeed myths about credit reference bureaus. John Lenon once said, ‘’ I believe in everything until it is disproved. So I believe in fairies, the myths, dragons. It all exists, even if it’s in your mind.’’ The first myth arises from the concept called blacklisting. We have heard it from many quarters, including the petitioner who has approached Parliament asking for disbanding of CRBs on account of the blacklisting of borrowers. This is retrogressive, and as we shall demonstrate below, blacklisting of consumers does not actually exist …
“Co-Ownership” of Mobile Money Data: Building a Kenyan credit bureau for the digital age
By Rafe Mazer and Kate McKee, CGAP (www.cgap.org) for CIS Kenya Who owns the data generated by mobile money customers’ transactions? In January, 2016, Safaricom announced a new way for consumers to access statements for their mobile money accounts. With a simple enrollment via short code, you can now receive a detailed statement of all your M-Pesa activity each month or request a statement for the past 6 months. The benefits to customers of this new feature extend beyond its ease of use when compared to the Self-Care option at Safaricom.co.ke. Betty Mwangi, Director – Financial Services, Safaricom, described what …