List of counties that recorded highest number of loan defaulters.
List of counties that recorded highest number of loan defaulters, sums up to a total of 15 counties.
According to a survey report by FinAccess household, they revealed that most of this has been caused by the current unexpected economic trends and climatic conditions.
According to the report, Marsabit county tops with the highest number of loan defaulters, ranked at 73.7 per cent, followed by Garissa at (58.5) and Samburu (58.3).
Busia county ranked at 3.8 per cent, Nandi and Siaya counties ranked at 4.1 per cent of loan defaulters.
The report further indicated that loan defaulting was found to be majorly attributed to ; little or no awareness about available financial services and products in meeting their needs, strain at household level, lack of financial advice and challenges consumers face in usage of different products and services.
The report read,”This is important for policy makers, private sector players, researchers, development partners, among other stakeholders, in terms of identifying challenges and opportunities regarding provision of or access to formal financial services across the 47 counties.”
The report also highlighted that their main aim is to provide insight to the county government and how to deal with the people in terms of resources allocation and funds, development and growth.
During his acceptance speech, president Ruto promised to deal with the CRB listing crisis.
He stated,” I am very happy that between four to five million Kenyans will be out of CRB blacklist by the beginning of November.”
“Four million Kenyans have been excluded from any formal borrowing because of blacklisting. They have been left at the mercy of shylocks,” he added.
CRB is currently working to align its objectives with the president’s directive.