KNCCI wants borrowers with small loans exempted from CRB

Written By: KNA

Negotiate with lenders to allow for restructuring, borrowers urged

The Kenya National Chamber of Commerce and Industry wants the government not to enlist its members with smaller amount of loans with the CRB.

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Speaking at Kutus town when he opened the chambers local office KNCCI President elect Richard Ngatia said by enlisting traders with smaller amounts of money CRB was hurting the economy since it slows down activity in the market leading to a slum in the economy.

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Ngatia blamed the national government and the devolved units for holding onto payment for a long time after work delivery has been done before releasing money to traders then again listing the same traders as bad creditors with CRB.

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He said the chamber will draft a bill requiring the government both national and counties pay for services and goods within 60 to 90 days.

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