However, the benefits of credit information sharing will only accrue if banks and other information providers ensure information availed to the Bureaus is accurate and credible. It is therefore imperative that banks and their customers and licensed Credit Reference Bureaus continue to work together to ensure accuracy and credibility of records.
On its part the Central Bank will continue to work with other players to extend the reach of the credit information sharing mechanism beyond the banking sector. But so far, we are encouraged with the first batch of information sent to CRB Africa – 78 percent of it was accurate – with no errors.