Creditinfo Launches ESG Hub to Fast-track Baltic Companies’ Access to Reliable Sustainability Data
New one-stop-shop solution aggregates information from more than 20 external sources, helping banks and businesses boost their ESG strategies, manage risk, and streamline their supply-chain transparency.
Creditinfo unveiled ESG Hub, the Baltic region’s first pan-regional platform that gives lenders and businesses instant, standardised access to the environmental, social and governance (ESG) data they need to comply with regulations, assess counterparties and execute sustainability strategies.
Building on Creditinfo’s long track-record of turning complex business information into accessible actionable insight, ESG Hub consolidates data from 20-plus public and proprietary data sources from Estonia, Latvia and Lithuania into one standardised API feed and ready-to-use report. By merging country-specific registries into a single, harmonised view, the platform lets banks and businesses manage ESG data uniformly across all three markets. Users can pull company-level metrics—from carbon emissions and energy intensity to board diversity and community impact—within seconds, eliminating the need to piece together separate national datasets manually.
“We want to accelerate the sustainability journey for the Baltic economies, and it all starts with easy access to trusted information. Until now, assembling ESG data has been difficult and time-consuming; companies have spent substantial time on these tasks, and the process has been inefficient,” said Elari Tammenurm, Regional Director, Continental Europe at Creditinfo. “With ESG Hub, any financial institution or company can integrate harmonised data directly into their existing workflows, cutting cost and complexity while improving decision speed.”
Proven model, now scaled to the Baltics
Creditinfo first introduced an ESG data service in Iceland in 2023; rapid adoption by local banks and corporates highlighted the growing importance of reliable sustainability intelligence. “The strong uptake we saw in Iceland showed us how big the need is,” noted Reynir Smári Atlason, Managing Director of Sustainability at Creditinfo. “We’re now bringing those learnings, and a richer dataset, to the Baltic markets.”
The company will continue to expand ESG Hub’s data source coverage and analytical modules over the coming months. Future roll-outs in additional Creditinfo markets are also planned.
For more information visit ESG Hub
Creditinfo & Little App Partner To Enhance financial Inclusion In Kenya
Little App’s new feature gives individuals and businesses instant, on-the-go access to their credit information
Nairobi, 18th June 2025 – Creditinfo, a global service provider for credit information and risk management solutions, has partnered with Little App, one of Africa’s most forward-thinking super apps, to enable Little App users to access their credit reports and monitor their credit scores instantly and securely within the app’s Financial Services section.
With the integration of Creditinfo’s credit bureau data into the app, individuals and businesses can conveniently view their credit information through their mobile devices. Whether applying for a loan, improving creditworthiness, or monitoring one’s financial health, this new feature makes it simple, fast, and user-friendly. Having this information available in one place will help people in Kenya to take control of their finances, make more informed decisions, and access credit with confidence.
“Our partnership with Little reflects more than just a shared goal; it’s a concrete step toward increasing financial inclusion and transparency across Kenya and the African region in the foreseeable future. Data is key to unlocking financial opportunity for people, and our priority is to make access to real-time, reliable credit information simpler and more intuitive. We’re immensely proud to deliver a solution that brings tangible benefits to people’s financial journeys,” said Kamau Kunyiha, Regional CEO East and Southern Africa at Creditinfo.
Kamal Budhabhatti, CEO at Little said: “Africa is undergoing a remarkable digital evolution, with mobile technology transforming how people live and engage with services. Through our collaboration with Creditinfo, we’ve built a solution that meets people where they are – on their phones – and fits seamlessly into their daily lives. We want to demystify complex financial data for everyone, empowering users to make informed decisions while driving lasting social and economic impact.”
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About Creditinfo
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in this field of credit risk management, with a significantly greater footprint than competitors. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.
For more information, please visit www.creditinfo.com
About Little
Little App is a pan-African super app that has been transforming everyday experiences since 2016. With nearly a decade of innovation, Little offers a wide range of tech-driven solutions across mobility, payments, delivery, healthcare, and lifestyle services.
Operating in multiple African countries, Little serves both individual users and organizations—delivering convenience, affordability, and efficiency. From ride-hailing to enterprise transport solutions and digital wallets, Little is at the forefront of enabling digital and financial inclusion across the continent.
For more information, please visit www.little.bz
Creditinfo launches new platform to boost African businesses’ access to credit and global opportunities
Creditinfo’s Business Information Platform Africa aims to strengthen local economies and foster global partnerships
London – 14 May 2025 – Creditinfo has today announced the launch of Business Information Platform Africa (BI Africa) to help African businesses and financial services access trade credit more easily and build stronger relationships with global partners. The platform will be rolled out in Kenya in June, with more markets to follow.
The move builds on Creditinfo’s success in the Baltics, where its business information tools have helped companies navigate partnerships and manage risk for over a decade. Now, that same model is being brought to Africa – starting with Kenya – where access to verified, independent business data has often been a challenge.
‘This launch isn’t just about data. It’s about unlocking opportunity,’ said Satrajit Saha, CEO at Creditinfo. ‘When businesses have the right information at their fingertips, they can make smarter, faster decisions that drive growth, close more deals and build lasting confidence – both locally and globally.’
The BI Africa platform offers reports on over one million African companies, presented in a simple, globally standardised format. Users can check key facts about potential partners or customers, everything from credit health to company history, making it easier to assess risk and build trust. Additionally, as an added service, Kenyan businesses will have access to company reports on over 430 million international companies – empowering them to confidently verify both new and existing clients through Creditinfo and its network of global partners.
‘We want to make it easier for African businesses to prove their value, compete globally, and grow with confidence,’ added Saha. ‘Greater transparency leads to stronger trust and improved access to finance – benefits that extend across economies and communities. And that’s a win for everyone.’
It also includes a Manual Investigation Service for those who need deeper insight. Users can request tailored research into specific companies, providing information that goes beyond the numbers, like ownership structures, litigation history, or up-to-date financials. Crucially, the platform isn’t just for large institutions. It’s been designed to support SMEs and individual entrepreneurs, too – those who often struggle the most with gaining access to trade credit.
‘By bridging critical trust and information gaps, our robust platform will redefine what is possible for businesses, of all sizes, in Kenya and beyond. What once took three to five working days to verify a potential business partner can now happen in seconds, without compromising on regulatory compliance. That’s a game-changer for companies, particularly in the SME sector, who need to make quick decisions in competitive markets,’ said Kamau Kunyiha, Regional CEO East and Southern Africa at Creditinfo.
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About Creditinfo
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in this field of credit risk management, with a significantly greater footprint than competitors. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.
For more information, please visit www.creditinfo.com
The Importance of Trust in Digital Interactions: The Cornerstone of a Digital Economy
There’s a diversity in maturity in digitization across the globe – from markets that are almost universally digital, through markets with developing digital economies, to markets with embryonic digital ecosystems. Mature economies typically have more mature controls but remain attractive to fraudsters because of the scale of opportunity – emerging digital economies typically have less robust ecosystems and are attractive because of the inherent vulnerabilities in the controls – with a promise for future growth.
The anonymity and distance that digital platforms afford make it easier for fraudsters to operate undetected.
For bad actors, the business model is scalable – in a digital economy the unique skills of Frank Abagnale Jr (of “Catch Me If You Can” fame) become redundant. The ready availability of personal data through vast data breaches and social engineering, and online access to digital channels present an attractive proposition for the enterprising fraudster.
In fact, cybercrime has risen dramatically alongside digital transformation, with fraud rates increasing globally – and we’re increasingly seeing collaboration between cybercrime, fraud, organised crime and money laundering. Organizations face mounting challenges in protecting their digital infrastructure and customers from fraudulent activities. From identity theft to financial scams, fraudsters are leveraging a wide array of tactics to deceive individuals and organizations.
The digital economy’s vulnerability to fraud presents significant risks, not only for organizations, but also for consumers. When fraud occurs, it undermines the trust that is essential to the functioning of the digital economy. If consumers and businesses cannot trust the digital services they engage with, it will slow adoption, hinder growth, and damage reputations. Therefore, mitigating fraud risk is not just about protecting individual interactions – it’s about maintaining the integrity of the entire digital ecosystem.
The importance of trust in digital interactions cannot be overstated. From e-commerce to financial services and beyond, trust is the foundation upon which all successful digital interactions are built. At the core of this trust is the concept of identity verification. In a world where interactions are increasingly conducted online, it’s critical to ensure the presented identity is a real-world identity, not synthetic – and that the individual presenting the identity is the owner of that identity.
The need to assert identity in digital engagements goes beyond basic security – it forms the bedrock of confidence that drives the entire online ecosystem. Whether consumers are signing up for a new banking service, purchasing products, or enrolling in educational courses, verifying the authenticity of their identity is paramount. Identity verification serves not only to protect individuals but also to secure businesses from fraudulent activities, which, in turn, strengthens the broader digital economy.
The Role of Identity Verification in Mitigating Fraud Risk
At the heart of reducing fraud risk lies robust identity verification. This process ensures that the individual engaging with a digital platform is who they claim to be. It is a crucial step that lays the groundwork for every subsequent transaction, providing a layer of protection for both consumers and businesses. Without reliable identity verification, any digital interaction is susceptible to being manipulated by malicious actors.
Identity verification can be achieved through a variety of techniques, including biometric verification, document verification, and multi-factor authentication. These methods allow businesses to verify that a person is genuine, providing them with the confidence to proceed with transactions. This, in turn, enables a safer and more reliable digital environment for everyone involved.
However, while basic identity verification is a critical first step, it is only part of the solution.
The Power of Layering Fraud Defences
In a digital economy, an identity is far more than a name, address, date of birth and national id number.
From basic digital identity attributes such as mobile numbers, email addresses and IP addresses, through payment attributes such as bank details and credit card numbers, through connected messaging apps and service accounts, through device attributes such as screen size, make, model, time zone, location, installed apps, through biometric attributes such as facial patterns, to behavioural attributes such as physical device interactions. A digital identity is an extensive and interconnected web of many attributes.
The real strength in mitigating fraud risk lies in combining multiple layers of defence – a multifaceted approach that examines not only the traditional identity attributes, but the wider digital footprint and the connections between attributes across the identity graph. Consistency and conformity to normalised patterns help establish greater trust – inconsistency and anomalous patterns indicate greater risk. Machine learning and artificial intelligence techniques are increasingly used to examine attribute patterns – generating increasingly performant models.
The power of a layered approach lies in managing the balance between making life difficult for bad actors and removing friction in genuine interactions. In a digital economy consumers become increasingly intolerant of any friction in their interactions with organisations. Where consumers encounter even minor friction, they will abandon the sales process and look for alternative providers – in a competitive market, the winners will be the businesses who deliver the easiest way to interact – but without appropriate fraud defences, success will be short lived.
More accurate multifaceted risk assessments can be implemented based lighter data capture, drawing insights from a broad range of sources, reducing CX friction and abandonment, readily securing greater trust, more accurately exposing risk.
Summary
As the digital landscape continues to evolve, organizations must prioritize trust as the cornerstone of their interactions with consumers. Robust identity verification and a layered approach to fraud prevention are not just best practices – they are essential for maintaining the integrity of the digital economy. By effectively combining multiple layers of defence, businesses can balance security with convenience, reducing fraud risk without sacrificing customer experience. In the end, fostering trust in digital engagements is the key to enabling sustained growth and success in an increasingly complex and competitive online ecosystem.
For more information, please visit: www.creditinfo.com
or email info@creditinfo.com
Author : Robert Meakin – Director, Fraud & ID, Creditinfo Group
Creditinfo and Esgrid Partner to Launch ESG Hub in the Baltics
PRESS RELEASE
03 December 2024 – Creditinfo, a global credit bureau and information services group, and Esgrid, a value chain sustainability platform, have joined forces to create ESG Hub, a centralised ESG data registry for the Baltic region. This one-of-a-kind platform is designed to simplify how businesses collect, analyse, and share Environmental, Social, and Governance (ESG) data—bridging the gap between rising sustainability demands and the practical challenges companies face in meeting them.
At present, ESG data remains fragmented, with no unified standard in place, complicating efforts for businesses and financial institutions alike. ESG Hub will address this gap by providing a comprehensive, single-source platform that combines quantitative and qualitative ESG insights. This will empower financiers and investors to make more transparent decisions while considering the environmental, social, and governance impacts of the companies they engage with.
Creditinfo will contribute its robust data collection capabilities by aggregating information from public and private registries, while Esgrid will work closely with businesses to capture and verify missing ESG data. Together, the partnership promises a reliable, end-to-end solution for ESG visibility and compliance.
Nele Roostalu, Product Development Manager at Creditinfo, highlighted the timeliness of the initiative:
“Integrating ESG metrics into the Baltic market is an essential step forward. By combining our expertise in trusted data management with ESG-focused solutions, we’re equipping businesses and financial institutions to operate more responsibly and transition to sustainable business models.”
Elari Tammenurm, Managing Director of Creditinfo Estonia, added:
“For over 30 years, we’ve empowered companies to make smarter business decisions. ESG data represents the next leap, enabling actionable solutions to promote sustainability.”
Oksana Tolmatshova, Co-Founder and CEO of Esgrid, emphasised the practical value of the new platform:
“Access to ESG data is critical for sustainable financing and procurement. Our collaboration with Creditinfo delivers a solution that significantly reduces bureaucracy and enhances companies’ competitiveness on both regional and international levels.”
ESG Hub is already in development, with the first phase set to roll out by the end of Q1 2025. This will include tools to help Baltic companies organise and share their ESG data while positioning themselves as sustainability leaders in their industries.
For further information:
Nele Roostalu
Product Development Manager
Creditinfo Estonia AS
Email: nele.roostalu@creditinfo.ee
Oksana Tolmatshova
CEO
Esgrid Technologies OÜ
Email: oksana.tolmatshova@esgrid.com
About Creditinfo
Creditinfo is a global credit bureau and information services group operating in over 30 countries. The company provides credit reporting, risk management, and decision-making tools to businesses, empowering them with reliable insights to make informed decisions and foster economic growth.
About Esgrid
Esgrid delivers value chain sustainability management solutions for large enterprises and financial institutions. The platform enables sustainability leaders to evaluate, manage, report, and improve the sustainability of their value chains while ensuring compliance with ESG standards. Founded in 2023 in Estonia, Esgrid’s investors include Lemonde Stand, Startup Wise Guys, EstBAN, and early employees of Pipedrive and Wise.
For more information, visit: ESG HUB BALTICS
Construction sector in Lithuania twice as risky as other businesses
Despite rising incomes and headcount, seizures amount to almost EUR 110 million
19% of construction companies are in the high and top bankruptcy classes and 31% are at risk of late payment, according to a recent study by Creditinfo Lithuania. Despite the number of employees and the rapid growth in revenues, the sector has already recorded 169 company bankruptcies this year. Nearly 11,000 debts have been registered, totaling more than €91 million. 1049 companies are subject to asset seizures amounting to almost €110 million.
There are currently 19850 construction companies registered in Lithuania, employing a total of almost 110 000 workers. At the beginning of this year, the number of companies in the sector was 20367, creating 108.2 thousand workplaces, while in 2023 the figures were 19167 and 107.7 thousand respectively.
According to data provided to the Centre of Registers, in 2023, construction companies in Lithuania together generated revenues of more than EUR 10.6 billion, representing 14.7% of the country’s GDP. In comparison, in 2022, construction companies’ gross revenues were 22.6% lower at EUR 8.7 billion.
Following the data provided by the companies, the top ten construction companies in terms of revenue in 2023 are Kauno Tiltai (EUR 192.9 million), YIT Lietuva (EUR 191.1 million), Fegda (EUR 184.2 million), Conres LT (EUR 117.3 million), Infes (EUR 107.3 million), Green Genius (EUR 102.7 million), “Merko statyba (EUR 97.8 million), Žilinskis & Co (EUR 94.4 million), Autokausta (EUR 94.3 million), Stiemo (EUR 87.4 million).
Despite the year-on-year increase in revenues, the construction sector is twice as risky as any other business in Lithuania. Currently, 19% of construction companies are in the high and highest bankruptcy classes, while almost one third (31%) are at risk of default. The sector has a similar risk profile from the beginning of 2023. Over the last 5 years, the highest risk levels were reached in 2020 and 2021, when a quarter of construction companies were close to bankruptcy and almost half of the companies (47%) were at risk of default.
In comparison, the average riskiness of all Lithuanian businesses is twice as low: 9% of companies are in the high and highest risk classes, while 16% are at risk of default.
Since 2007, 4,497 construction companies have gone bankrupt in Lithuania, with an average of 254 each year. The highest number of bankruptcies was recorded in 2009, when 445 companies became insolvent. This year, 169 construction companies went bankrupt between January and September.
The average amount of seized assets increased by 34.7% to EUR 105 thousand
Currently, 10892 debts of construction companies are registered in the credit bureau system, with a total amount of EUR 91 million and an average debt of EUR 8 360. Compared to the beginning of January 2024, the number of debts exceeded 13,000, the total amount was €164 million, and the average debt size was 1,5 times higher (€12,602).
According to the data of the Credit Bureau, there are currently 2209 seizures on construction companies, including 1043 seizures with monetary value, for a total amount of EUR 109.8 million. The number of construction companies with at least one attachment is 1049 and the average attachment per company exceeds EUR 105 000. At the beginning of this year, the number of seizures was 2,702, with 1,293 seized companies, and the average amount of a single seizure was EUR 68.7 thousand, 1/3 (34.7%) lower than at present.
“If you notice in the credit bureau’s systems that a business partner or client has seizures, please be careful. It is a serious sign that the company is at risk of defaulting on its payments,” advises Rasa Rasickaitė, Risk Assessment and Management Expert at Creditinfo Lithuania. Asset seizure is a compulsory restriction of the ownership right to property, which can be applied by state authorities to secure evidence, civil action, possible confiscation of property, as well as the collection of fines and unpaid payments, satisfaction of creditors’ claims, and fulfilment of other claims and liabilities. Therefore, when you see a registered seizure, you should also pay attention to other available information, such as court information, debts to creditors, the tax authorities and the social security system.”
According to Rasickaitė, in the event of a seizure of assets, it is advisable to find out the reason for which the seizure has been registered, what assets have been seized, and whether the seized assets are allowed to be disposed of in the course of the company’s business. If there are doubts about the ability of the business partner to pay, it is advisable to ask for prepayment or guarantees.
Creditinfo appoints Charles De Winnaar as Global Head of Sales Strategy and Sales Operations
Former Marsh Africa Sales Leader – Charles De Winnaar – brings a wealth of sales and leadership experience to drive Creditinfo’s international growth
London – 26th September 2024: Creditinfo, a global service provider for credit information and risk management solutions, announces the appointment of Charles De Winnaar as its Global Head of Sales Strategy and Sales Operations. As an experienced sales leader in financial services, Charles will lead Creditinfo’s global sales strategy and operations across its network of 30 credit bureaus. He joins the company from Marsh Africa, where he held the position of Sales & Distribution Leader.
In his role, Charles will be responsible for Creditinfo’s revenue growth, market expansion, and operational excellence to ensure scalability and enhance the customer experience across its different markets. From developing strategic partnerships to driving innovation in sales processes and technologies, he’ll play a key part in the next phase of Creditinfo’s international growth.
With over two decades of experience in sales and finance, Charles has a deep understanding of global financial markets and an impressive history of leading large-scale sales teams, bolstering business growth, implementing customer-centric solutions and transforming sales operations.
As Sales Leader at Marsh Africa, he executed the revenue and portfolio optimisation strategy across multiple Africa regions. Prior to joining Marsh Africa, he held various sales leadership roles at the National Bank of Kuwait and Barclay’s Bank Africa. During his time at Barclays, he led the development and launch of a first-to-market mobile payment wallet lending solution in Africa.
Charles De Winnaar, newly appointed Global Head of Sales Strategy and Sales Operations at Creditinfo said: “I’m delighted to join Creditinfo, a company that is committed to empowering people and businesses through financial inclusion. I look forward to working with the talented global team and contributing to Creditinfo’s long-term success.”
Satrajit Saha, Global CEO at Creditinfo said: “With his unmatched expertise in global markets and a proven track record of building strategic partnerships across different regions, Charles is a valuable addition to our leadership team. As we look to accelerate market expansion, harness digital transformation in our global strategy, and continue to facilitate access to finance for millions of individuals and businesses worldwide, Charles will be instrumental in helping us to achieve these goals.”
Charles will report directly to Satrajit Saha, Creditinfo’s Global CEO.
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About Creditinfo
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in this field of credit risk management, with a significantly greater footprint than competitors. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.
For more information, please visit www.creditinfo.com
Central Bank of Seychelles awards Creditinfo contract to Develop and Implement a new Credit Information System (SCIS)
PRESS RELEASE
Victoria– September 11, 2024 – The Central Bank of Seychelles (CBS) has today launched the Seychelles Credit Information System (SCIS) in accordance with the Credit Reporting Act, 2023, to improve credit information sharing across the financial system.
The SCIS will be administered by CBS, which will be responsible for overall supervision of the operation of the system, as well as providing awareness on the system and its governing law. The contract to develop and implement the SCIS was awarded to Creditinfo CEE a.s., a company based in the Czech Republic, through an open bidding method as per the CBS procurement process in April 2021.
The SCIS – which replaces the previous Credit Information System established under the Credit Reporting Regulations 2012 – is an improved credit information system which will enhance credit reporting and data exchange between participating institutions. It incorporates automated features requiring minimal manual processing, hence mitigating potential risks of inaccuracies in the credit information of customers.
The current participants of the SCIS include the commercial banks, Seychelles Credit Union, Development Bank of Seychelles and the Housing Finance Company (HFC). The SCIS will continue to expand with the addition of other participants through a phased approach, to include Government entities, utility companies, hire purchase and credit sales, financial leasing companies, and insurance companies. The addition of these other entities – that are also engaged in activities that provide for payment arrangements – will give a more accurate indication of the repayment history and level of indebtedness of customers, information which is essential in the decision-making process for granting credit and loan facilities.
To note that only participating institutions can access the credit information of an individual, at the consent of the individual, in compliance with the Credit Reporting Act, 2023. Individuals holding accounts with these institutions will also be able to access their own credit report through the Customer Credit Portal, which is expected to be launched in the first quarter of 2025.
To watch a news clip of the event, click here.
Visit our websites for more information
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Experian MicroAnalytics and Creditinfo unite to launch groundbreaking new fintech solutions
NAIROBI, Kenya, Aug 12, 2024 – Experian MicroAnalytics, a global leader in mobile financial services, and Creditinfo Group, a leading global service provider for credit information and risk management solutions, have partnered to combine Experian MicroAnalytics’ mobile financial services platform with Creditinfo’s scoring models and local market expertise, providing innovative new solutions that facilitate access to finance for individuals and businesses across Africa.
Experian MicroAnalytics, renowned for its risk management solutions utilized by major telcos worldwide, brings its expertise in mobile financial services to the partnership. Their solutions, such as mobile money loans, advanced analytics and machine learning, help to support underserved populations who don’t have access to traditional banking services. Experian’s technology not only facilitates seamless financial transactions but also generates additional revenue streams for telecommunications operators and banks, if present as fund providers.
“Experian is dedicated to driving financial inclusion globally, and our partnership with Creditinfo strengthens our ability to deliver impactful solutions,” said Sammy Hamoudi, General Manager of Experian MicroAnalytics. “Together, we aim to empower telecommunications operators and fintechs to extend their services to previously underserved populations.”
Creditinfo provides comprehensive credit bureau solutions to enable informed decision-making in the financial sector. With this partnership, Creditinfo will further establish itself as the leading credit bureau provider in Africa, enhancing its business risk assessment capabilities and customer insights.
“At Creditinfo, we recognize the transformative power of data-driven solutions in fostering financial inclusion,” stated Kamau Kunyiha, Regional Manager, East and Southern Africa at Creditinfo. “Our collaboration with Experian will help individuals and businesses across Africa gain access to finance, underscoring our shared vision to drive positive change and improve the standards of credit assessment.”
As joint Gold Sponsors of Africa Fintech Festival 2024, Experian MicroAnalytics and Creditinfo showcased their partnership at the event held in Kenya in early June. The festival provided an ideal platform for them to demonstrate their collaborative efforts. Through fireside chats and conference discussions, participants were able to explore opportunities to enhance financial inclusion in Africa through future collaboration.
About Experian MicroAnalytics
Experian MicroAnalytics is a global leader in mobile financial services, providing risk management and marketing solutions to telecom operators and fintechs around the world. Our AI cloud platform increases consumer engagement, reduces churn, manages lending exposure and optimises conversion rates.
With over $4.5 billion in loans already provided by Experian MicroAnalytics, we deliver personalized financial experiences to consumers, empowering financial inclusion while minimizing bad debt.
For more information, please visit www.e-microanalytics.com
About Creditinfo
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in the field of credit risk management. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.
For more information, please visit www.creditinfo.com
Creditinfo, FSD Kenya, and CIS Kenya Launch the Findings of a Study on Kenya’s Credit Market Landscape
Press release
Nairobi, Kenya – Monday, 5th August, 2024 – A new study has revealed a complex picture of Kenya’s credit market, with digital loans dominating the landscape while the overall value of loans disbursed is on the decline. The study conducted by Financial Sector Deepening (FSD) Kenya, Credit Information Sharing Association of Kenya (CIS Kenya), and Creditinfo Credit Reference Bureau Kenya Limited (Creditinfo CRB), provides a comprehensive analysis of credit data spanning five years.
The study is titled Kenya’s credit market landscape – Demand side analysis of credit records held by Creditinfo CRB, is based on an analysis of credit records held by Creditinfo CRB.
The use of Credit Reference Bureau data in this study provides an opportunity to analyse credit data that is aggregated from various sources and segmented according to borrower’s sex, type of loan (digital and non-digital), type of borrower (company and individual), and provider type (bank, MFB, and MFI). The data covers the 5-year period from January 2019 to December 2023.
Summary findings
- Kenya’s credit market is dominated by digital loans (in volume terms) provided by banks mostly to male Banks continue to dominate the retail lending market, accounting for over 90% of the volume and value of digital and non-digital loans.
- The number of unique borrowers has been on a steady increase on an annual basis, with
7.5 million unique borrowers in 2019 compared to 11.4 million unique borrowers in 2023. This constitutes both individual and non-individual borrowers (companies). On average, there are 6m unique male borrowers and 4.3m female borrowers each year.
- In contrast to the increase of unique borrowers, the aggregate value of loans disbursed annually has been on a decline, with KShs 2,067bn issued in 2019 compared to KShs 1,937bn in Male borrowers accounted for 61.4% of the total number of loans and 71.1% of the total value of loans issued between 2019 to 2023.
- On average, there are 10 million unique borrowers who have at least one digital loan annually compared to 1 million for non-digital loans. Approximately 270 million new digital loans valued at KShs 1,512 billion were issued over the five-year period compared to 8 million non-digital loans valued at KShs 8,282 billion over the same period. There is, however, an observed decline in the average value of nondigital loans, from an average of KShs 8,353 in 2019 to an average of KShs 4,555 in 2023, a 45% decline.
- The number of new negative listings declined by more than half between 2019 and 2023. Whilst this can be attributed to changes in the regulatory framework on the treatment of negative listings, there is a marked decline between 2019 and 2020 which was beforethe regulatory changes. In 2023, 933,551 individual borrowers were negatively listed with Creditinfo CRB compared to 2,204,591 individuals in 2019.
- Female borrowers have better repayment histories compared to men, accounting for an approximately of 36% of the new negative listings over five-year period, compared to 64% for
- Most borrowers who have a negative record have an outstanding loan balance of between KShs 1,001 to KShs 5,000. The data further indicates that a higher proportion of borrowers initially listed as having repayment difficulties with their loans (negative record) managed to fully repay them off after seven months and within one
- 69% of borrowers that previously had a negative record were subsequently issued with a new This is contrary to the public’s perception that the CIS mechanism is a blacklisting tool and that a negative listing automatically precludes a borrower from accessing future loans.
“The development of Kenya’s credit market is at the core of FSD Kenya’s work and strategy. While many of the building blocks that underpin an efficient and effective retail market are in place, available evidence points that the provision of appropriate and affordable credit remains a challenge. MSMEs and women continue to be underserved. FSD Kenya’s work in credit market is aimed at working with various partners to address the factors that constrain the flow of productive credit to where it is needed the most. Part of this includes creating the knowledge and evidence base through research and analysis to inform the direction of market development and policy interventions. This study is part of those efforts. The expectation is that the study will provide the basis for engagement with various stakeholders on the development of Kenya’s credit market, long-term policy implications, and the functioning of Kenya’s Credit Information Sharing mechanism.”, said Francis Gwer, FSD Kenya’s Senior policy specialist.
“The Credit Information Sharing (CIS) mechanism has significantly advanced since its inception in Kenya. The transition from negative-only reporting to the bureau to comprehensive full-file reporting to the bureau marked a pivotal moment, fostering innovation and financial inclusion. Data gathered throughout this evolution has proven invaluable for market growth and innovation. Further advancements, such as incorporating all credit sectors and enabling real- time reporting, have the potential to elevate the CIS mechanism to new heights.”, said Kamau Kunyiha, Regional Manager, Creditinfo CRB
About FSD Kenya
Financial Sector Deepening Kenya (FSD Kenya) is an independent trust dedicated to the achievement of a financial system that delivers value for a green and inclusive digital economy while improving financial health and capability for women and micro and small enterprises (MSEs). We work closely with the public sector, the financial services industry, and other partners to develop financial solutions that better address the real-world challenges that low-income households, micro and small enterprises, and underserved groups such as women and youth face. More details about FSD Kenya.
About CIS Kenya
The Credit Information Sharing Association of Kenya (CIS Kenya) was set up to institutionalize the National Credit Information Sharing (CIS) Forum. The Forum was created in early 2012 in order to bring together both bank and non-bank credit providers to map the way forward towards implementing full file comprehensive CIS in Kenya. Prior to the formation of CIS Kenya, the implementation of CIS in Kenya was spearheaded by the Kenya Credit Information Sharing Initiative (KCISI), a partnership between Central Bank of Kenya (CBK) and Kenya Bankers Association (KBA). More details about CIS Kenya.
About Creditinfo
Established in 1997 and headquartered in London, UK, Creditinfo is a provider of credit information and risk management solutions worldwide. As one of the fastest-growing companies in its field, Creditinfo facilitates access to finance, through intelligent information, software and decision analytics solutions.
With more than 30 credit bureaus running today, Creditinfo has the most considerable global presence in this field of credit risk management, with a significantly greater footprint than competitors. For decades it has provided business information, risk management and credit bureau solutions to some of the largest, lenders, governments and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals. More details about Creditinfo CRB.
