NCBA, Safaricom's M-Shwari defaulters get relief after being suspended from CRB list

Relief on the borrowers on NCBA Group mobile lending platform, M-Shwari, have been handed a month’s relief on late payment penalty. M-Shwari defaulters have been de-registered from the CRB following President announcement.

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This is as a consequence of the economic impacts of propositions Kenya has taken to restrain the expanse of coronavirus in the country as per President Uhuru Kenyatta decision.

Borrowers on the platform, powered by Safaricom’s  M-Pesa, will not be charged additional 7.5 per cent fees if they roll over debt to the following month, NCBA and Safaricom said in a joint statement on Thursday.

“CRB listing of M-Shwari customers will be suspended for the next 90 days. NCBA and Safaricom will continue engaging and working with customers during this time to ensure they can manage loan repayments,” the statement read.
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“We would like to urge customers to be responsible with the credit solutions to ensure that as a collective we care for each other during this tough time,” NCBA Group chief executive John Gachora said in the statement. “The bank shall through M-Shwari, continue to responsibly support all customers through this difficult period.”