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Kenya’s credit market has seen negative credit listings drop from 2.2 million in 2019 to about 933,000 in 2023, a new study shows.

The study released yesterday by FSD Kenya, the Credit Information Sharing Association of Kenya (CIS Kenya), and Creditinfo Credit Reference Bureau Kenya Ltd attributed the drop to regulatory changes by the State

The study however saw growth in digital loans. CIS Kenya chief executive Jared Getenga said the number of unique borrowers has however increased to 11.4 million in 2023 from 7.5 million in 2019, indicating that more people are accessing credit.

The total loan amount decreased from Sh2.07 trillion to Sh1.94 trillion over the same period. “Many borrowers with past negative records have managed to repay their loans within seven months to a year. Moreover, 69 per cent of these borrowers have been able to get new loans, showing that the CIS system is not just about blacklisting,” said Getenga in Nairobi.

He noted that while men still borrow more in terms of volume and value, women are showing better repayment habits and have fewer negative listings.

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