Ratio Magazine :: The Inside Track to East Africa’s Economies - Uganda: Press Release: Data Submission Efforts by Banks is Starting to Pay Off

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Uganda: Press Release: Data Submission Efforts by Banks is Starting to Pay Off

Tuesday, 05 August 2008

CompuScan has already collected in excess of 600,000 individual loan records that will be used to populate the files of the credit bureau.

Data collection efforts are paying off, says Head of Data, Albert Leibbrandt. "It has been somewhat of a long road since the beginning of the year, but we are seeing a bright light at the end of the tunnel as lenders are focusing on data supply". According to Leibbrandt, CompuScan has already collected in excess of 600,000 individual loan records that will be used to populate the files of the credit bureau.

These records reflect a significant amount of positive repayments, confirming what we already know, that in any market most borrowers repay their debt well. All data must be provided to CompuScan, but it can only be dispalyed once consent is obtained for positive data submission to the bureau. According to Leibbrandt, where borrowers who do not rush to give their consent it will be most unfortunate for them.

By not allowing CompuScan to share positive information, a borrower damages their own credibility, or at least prevents others from seeing how well they pay and the entire aspect of reputational collateral can be forfeited.

For more information, please contact CompuScan at Tel: +256 (0)41 434 7563 or e-mail us at: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

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