Wednesday, February 16, 2005

Credit reference & bad debt collection in Kenya

In the East African this week, Credit Reference Bureau (CRB) Kenya Country Manager Wachira Ndege, expects more bank’s to use expert evaluation before making lending decisions especially when advancing (unsecured) personal loans. He reveals that Barclays, NIC, Stanbic, KCB card, Fina, and Southern Credit use CRB services.

Also a CRB subsidiary, Collection Africa, is bidding alongside Transunion and Metropol to purchase the bad loan portfolio of National Bank of Kenya at a discount’s of 60%o. Collection Africa has been contracted by collect bad debts by Stanbic Kenya, Stanchart Tanzania and Barclays (in Kenya, Uganda, Tanzania, Botswana, Zamia and Ghana)

11 comments:

daktari said...

60% looks cheap by me..i mean most corps can squeeze 80% which translates to 80 cents a dollar.i think someone should have a look.Looking at the defaulters that were basically politicians.it was more than an unwillingness to pay not a direct unability to pay that was th eproblem.You squeeze these guys and their shambas and they will pay.

bankelele said...

A good number of the loans were/ are 'political'and chances of repayment low, also they are quite old

Loan A-Ranger said...

60 cents looks far too high for me. In the mid 80s the US Federal Reserve sold their bad debts (mainly House Loans)at 25 cents on the $. The Mexicans in early 1990s sold at around 15 cents. Third World debt via the Paris Club has been as low as 8 cents.

Steve Austin said...

Nice blog. Please check out my debt reduction blog. It is all about debt reduction.

billuk said...

Hey, you have a great blog here! I'm definitely going to bookmark you!
I have a auto loan after bankruptcy
site/blog. It pretty much covers auto loan after bankruptcy
related stuff.

Come and check it out if you get time :-)

Anonymous said...

Debt Help
Debt Consolidation can help you reduce your interest burden by charging an interest rate lower than the rate on your existing loans.

Anonymous said...

Debt Help
Debt Consolidation can help you reduce your interest burden by charging an interest rate lower than the rate on your existing loans.

real estate blogger said...
This comment has been removed by a blog administrator.
equidebt said...

This announces the entry into Kenya of Equidebt Collect, a debt collection and purchasing firm, specializing mostly in distressed bank debts.

Our site is http://equidebt.blogspot.com

johnsmith said...
This comment has been removed by a blog administrator.
johnsmith said...
This comment has been removed by a blog administrator.

LinkWithin

Related Posts with Thumbnails