Flamboyant businessman and philanthropist Gor Semelang’o has urged the government, through the National Assembly, to scrap CRB listing for loan defaulters.
Mr Semelang’o says the Kenyan economy has stagnated with little or no new notable job ventures created, hence, according to him, it is unfair for the youth to be listed at the CRB, effectively blocking them from accessing loan facilities.
“MPs should review that law and have it scrapped until our economy stabilises to allow small and medium-sized enterprises (SMEs) to grow. The government should set up funds to allow SMEs to borrow and at least give a grace period of 3 months and a tax vacation of small businesses to grow, given business is the engine of growth,” said Mr Semelang’o.
The philanthropist further urged governors to engage the Chamber of Commerce in all bilateral agreements in the region to ensure growth of businesses in all counties.