Amendments in the Banking Act proposed by Finance Minister Njeru Githae will soon see many more Kenyans blacklisted, a move that would deny them access to loans and other forms of credit. This is a strengthening bid for lenders who have been pushing for information about borrowers.

The minister proposed amendments to the Banking Act to allow sharing of information on credit defaulters among commercial banks, Savings and Credit Cooperatives (SACCOs) and now public utility companies. This will effectively see people's utility payment histories be shared, a move that could hinder defaulters from accessing loans in banks and other institutions.

Public utility companies like Kenya Power,  Nairobi Water Company, and  City Council of Nairobi will be expected to share information about their clients' bill payment habits. According to Business Daily, Nairobi Water Company faces bad debts in excess of Sh3 billion with Kenya Power having electricity bills worth more than Sh2.6 billion outstanding for over three months.

"We will expand credit information sharing mechanism to include various credit providers beyond banks such as credit-only microfinance institutions and SACCOs.This will enhance credit risk management in banks and other credit providers." Githae read in the budget statement for 2012/13.

A report published in April by Financial Services Deepening (FSD Kenya) said the build-up of consumer information had resulted in the listing of 203,518 individuals and 9,954 businesses as bad debtors by April last year.