Nairobi, Nov. 30 -- Absa Bank Kenya disclosed it has written off Sh1.8 billion worth of digital loans, a move that has seen about 400,000 customers taken off the list of defaulters with credit reference bureaus.

It is the latest bank to reveal debt forgiveness after NCBA Group which cancelled more than Sh11 billion in the initiative by the Central Bank of Kenya (CBK).

The plan, dubbed Credit Repair Framework, seeks to improve the credit standing of mobile digital borrowers whose loans were non-performing and had been listed by CRBs.

"[Following] the recent request coming from the President to delist digital borrowers, today close to about 400,000 customers who were borrowing from our digital platform (Timiza) have been delisted and the...