Why OKash is among exhibitors, sponsors of the ongoing 5th Africa Credit Information Sharing conference
The two-day-long conference that kicked-off on Thursday, has been organized by CIS Kenya in partnership with Care Ratings Africa with an aim of providing skills to stakeholders on developing strategies of risk-based pricing in line with credit market requirements.
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OKash as an exhibitor in the conference is showcasing the various solutions it has developed as a digital lender towards solving various issues identified in the digital credit market.
For beginners, Credit Information Sharing (CIS) is a process where credit providers such as banks, microfinance institutions, saccos, digital lenders among others, exchange information on their outstanding loans and advances through licensed Credit Reference Bureaus (CRBs).
Through this risk management tool, financial institutions may justifiably divulge information about their customers without breaching their duty of confidentiality, something that OKash seeks to promote via its sponsorship of the conference.
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According to CIS Kenya, the conference will dwell on a wider conversation into the synergies that the broader credit infrastructure provides in promoting a more inclusive credit market and which financial sector players want implemented.
Speaking during the opening ceremony, CIS Association of Kenya Jared Getenga noted that a robust credit infrastructure is key to solving some of the perennial financial sector challenges.
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“A strong credit infrastructure will enable efficient and effective access to finance, financial stability and socially responsible economic growth through credit reporting, secured transactions and collateral registries and insolvency and debt resolution,” said Getenga.
The proposed credit infrastructure reforms include establishment of resilient credit reporting systems, collateral registries, legal structures and regulatory frameworks for fintech development.