Credit info and HELB partnership Launch
The Higher Education Loans Board (HELB) together with the Creditinfo CRB Kenya Ltd (CIK) have launched strategic a partnership that aims to support HELB to make faster, better and more informed credit decisions, champion responsible lending, promote financial inclusion and facilitate the expansion of credit to the education sector. The partnership will be a first of its kind in Kenya meaning that HELB can use credit scoring and other Creditinfo CRB systems and services to lend to mature students who may already be employed and who have credit profiles at the CRB.
Speaking during the launch, Mr Charles Ringera, HELB CEO said, “HELB welcomes Creditinfo as a new strategic partner. We highly value this collaboration, which will reinforce HELB’s commitment to remove barriers and enhance access to educational services, with an affordable and efficient service to the Kenyan community. We believe access to educational loans for a greater number of students will be a catalyst for the development of the middle class in any economy. The participation of the credit bureau in this process will keep interest rates at manageable levels as the associated risks will be better mitigated”
Mr Daniel Kanyi, Chief Executive Officer, Creditinfo CRB Kenya, commented “Creditinfo Kenya is in the business of improving access to credit and promoting responsible lending through the application of effective risk management practices. CIK helps customers grow and improve their loan portfolios, by identifying the right applicants. We are delighted that HELB has elected to work with us for this purpose. Borrowers will be able to access enhanced credit facilities as they grow their credit histories and track record. HELB will be able to develop new and competitive products and tap into previously unserved niches with the power of available information impacting positively on the education sector and the economy as a whole“ he added
CREDITINFO CRB KENYA LTD
Credit info CRB Kenya Limited was licensed by Central Bank of Kenya in April 2015 to operate a credit reference bureau in the country. CIK is part of Creditinfo Group, a leading service provider for credit information and risk management solutions worldwide. It has developed, through its multiple subsidiaries in more than 30 countries, numerous innovative products and services to facilitate best practices in credit risk management. Creditinfo has built strategic alliances in various countries with global bodies such as the World Bank, International Finance Corporation, Millennium Challenge Corporation and others. For further information on credit info please contact Mr David Kanyi Creditinfo on [email protected]
Olive C Metet, MPRSK
Corporate Communication Officer