Nandi County Cooperative Commissioner, Starlin Koech (pictured) has warned the defaulters in the Savings and Credit Cooperative Societies within the County that Sacco’s will be put under Credit Reference Bureau (CRB) for them to find it difficult to access credit anywhere adding that they will have nowhere to hide.
He asked those with outstanding loans to repay their loans immediately to avoid being listed as defaulters. He said with the introduction of CRB, Saccos will no longer rely on loan guarantors as they have been doing over the years to recover debts.
The County Cooperative boss cited that, the credit information will be shared with banks which will make it difficult for defaulters to borrow loans in banks as well adding that Nandi County has approximately 2000 defaulters adding that defaulting is a big problem especially in rural Saccos.
– Judy Chepcheng
Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
