Naivasha, Kenya: Metropol recently hosted the inaugural National Credit Market Convention, a platform dedicated to exploring the potential of data and market insights to foster sustainability within the credit market.

A key highlight of the event was a speech by KNCCI Director Ken Onditi, MBS, representing KNCCI President Dr. Erick Rutto. Director Onditi delved into the pressing challenges and opportunities facing the credit market, emphasizing the far-reaching consequences of market distortions. These distortions, he noted, not only harm lenders through rising defaults and non-performing loans but also negatively impact businesses and individuals.

To address these challenges, KNCCI has undertaken several initiatives, including:

▪ Affordable credit for MSMEs

▪ Long-term credit solutions

▪ Financial solutions and Risk pricing

Director Onditi underscored the critical role of data conversion in empowering borrowers, particularly MSMEs. By leveraging data, open banking, alternative data, and innovation, borrowers can improve their creditworthiness and access more favorable financing terms.

The two-day convention that ended today aimed to deliver tangible benefits to borrowers and the broader business community. The outcomes of this event are expected to shape the future of the credit market in Kenya.