Kenyan multi-billionare, Peter Nduati has sued a mobile money lending company for messing up his credit rating after it erroneously listed him with the a credit reference bureau (CRB) for a Sh1,000 loan, which he had not borrowed.
Nduati is the founder of Resolution Health insurance company and is the CEO of Centric Air, an airline ambulance company. He is also a key shareholder of PineCreek Records and Trueblaq Entertainment. By January 2015, he had already built a Sh3 billion fortune.
Mr Nduati, who narrated his tribulations on Twitter, said that in his life he has never borrowed from any mobile application.
The company insisted that the number was linked to his ID number and that he had borrowed the Sh1,000/- and defaulted. “I was now pretty tired of the run around and they kept insisting,” he said.
Later, though, he received a call from the CRB that the money lending company had cleared him and that it was an error.
“No further explanation but that transaction has brought my credit score to BB- or something like that which simply means I have a 40 per cent chance of defaulting,” he added.
Mr Nduati says that he is now fighting to sort out his credit score because of the loan that he even never borrowed in the first place.