What Are CRBs And What Are Their Roles In Uganda?
A CRB is a legal entity authorized by the Bank Of Uganda to provide credit reference services to Ugandans such as check CRB status in Uganda.
Credit reference services refer to credit information sourced from financial institutions such as commercial banks, microfinance banks etc that helps in lending decisions through the analysis of an individual’s borrowing and repayment behavior.
By doing this, credit reference bureaus improve Uganda’s financial sector by enabling lending institutions avert potential default risks through time and on-demand access to accurate borrower credit history information.
Other roles provided by the credit reference bureaus in Uganda involve the collection of information regarding the borrowing and repayment patterns of individuals and businesses.
CRBs in Uganda also simplify loan application review processes since prior information on a borrower’s credit history is easily accessible via credit reports.
Furthermore, Ugandan CRBs assist in the reduction of over-indebtedness and risky borrowing patterns resulting in loan defaults.
Lastly, CRBs also minimize information asymmetry through the enabling of information sharing across lending institutions thereby increasing credit access to more Ugandans as they become more eligible for financial services.
Benefits Of CRBs In Uganda
The convenience provided by CRBs in Uganda cuts across both key players i.e lenders and borrowers in that the benefits encountered include;
1. Reduction of loan processing turn-around times for borrowers
2. Lenders are able to access credit risk
3. Reduction of lender rates previously implemented as compensation for loan defaults
4. Negotiation of better credit terms by borrowers via the basis of their credit reports
5. Borrowers are guided on easily affordable loan options
CRB Companies In Uganda
Currently, there are three (3) licensed credit reference bureaus in Uganda that enable individuals and businesses to check credit CRB status in Uganda through the use of credit reports.
The three CRB companies In Uganda include;
1. Experian Uganda CRB Ltd
The establishment of Experian Uganda CRB ltd in 2021 resulted through the acquisition of Compuscan by the former.
Experian has collected, provided, and protected excellent data on businesses and individuals over the years by providing firms across industries with verification, application processing, consumer management, loan choices, tracing, collection services and how to check CRB status in Uganda.
Experian Uganda CRB Contacts
3rd Floor, North Wing, Soliz House
Plot 23 Lumumba Avenue, Nakasero Kampala
P.O Box 7204, Kampala-Uganda
Tel: (+256) 20 051 8500
2. Metropol Uganda Ltd
Metropol Uganda began its operations in 2015 and through the years it has provided credit reports that check crb status in Uganda and value added solutions to all credit providers in Uganda.
Metropol Uganda Ltd Contacts
Crane Villas Building, Plot 9, 4th Floor, Yusuf Lule Road
P.O Box 5999, Kampala-Uganda
Tel: (+256) 200 516 800
3. GnuGrid CRB Ltd
GnuGrid Ltd was established in 2021 as the premier indigenous credit reference bureau in Uganda whereby it deals with the collection of credit data and its validation into meaning data provided through credit reports and credit scores that check crb status in Uganda as well as assist in lending decisions.
GnuGrid CRB Ltd Contacts
Plot 114, Ntinda-Kisaasi,
P.O Box 5326, Kampala-Uganda
Tel: (+256) 393 194 261
What Is A CRB Report & How Does It Work?
A CRB report which allows one to check crb status in Uganda, refers to an individual/company’s credit history that is useful in the determination of credit worthiness through the provision of credit status standings.
The CRB report usually contains information such as;
a) Issuing CRB company name, date and time
b) Personal details information such as name, address, contacts, ID number, FCS number etc
c) Company details information such as name,registration number, TIN, FCS number etc
d) Loan details information such as performing/non-performing loans etc
How To Check CRB Status In Uganda
Occasionally checking your CRB status enables you to know your financial standing with various lenders as well as your creditworthiness in obtaining future loans.
Checking your CRB status in Uganda entails obtaining a credit report from any of the three (3) licensed CRB providers in Uganda.
Below are some of the ways with which to obtain a credit report from them.
How To Get CRB Report In Uganda Via Experian Uganda CRB Ltd
1. Navigate to the Experian consumer information webpage
2. Click on ‘Credit Report’ located under the ‘Get Your Credit Report’ section
3. Enter your personal details which include; full names, phone number, email address, FCS number and national ID number
4. Select either the ‘Free credit report’ or ‘Paid for credit report’ depending on your request privilege whereby you are entitled to one free annual credit report and charged for any subsequent request for within the same year.
5. Select your reason for requesting for the credit report from the list of available options such as; submission to a credit provider (requires name of credit provider)/personal use/other (specify)
6. Attach the relevant verification documents which include; national ID (individuals), passport(foreigners) and Incorporation/Registration certificates (businesses)
7. Click ‘Submit’ to complete the process.
How To Get CRB Report In Uganda Via Metropol Uganda Ltd
1. Navigate to the Metropol Uganda downloads webpage
2. Click on ‘Download the credit report request form’
3. Fill in the required sections which entail;
i. Individual details such as names, date of birth, gender, nationality, FCS number
ii. Contact details such as postal address, country, mobile phone number, email address
4. Tick on ‘Credit report’ as the product being requested for
5. Select your reason for requesting for the credit report from the list of provided options i.e personal interest/credit denial/others (specify)
6. Select your receiving method either via email or collection at Metropol Uganda offices.
In the event that you may require direct forwarding of the credit report to the requesting institution, provide the institution’s name, email and postal address.
Lastly, attach the relevant verification documents such as a copy of national ID/driver’s license/passport/financial card.
How To Get CRB Report In Uganda Via GnuGrid Ltd
1. Dial the GnuGrid ltd ussd code *284*38#
2. Read, understand and agree to the terms and conditions
3. Select your preferred identifier type i.e FCS number/NiN/country ID
4. Enter your chosen identifier type
5. Input your phone number, name and national ID number
6. You will receive activation code sent via SMS
7. Dial the ussd code once more
8. Select the GnuGrid CRB mobile credit score option
9. Enter the activation code initially received via SMS
10. Set and confirm your 4-digit PIN to activate your account
11. Dial the ussd code one last time
12. Enter your 4-digit PIN
13. Select option 1; My current score
14. Your credit score will be sent via SMS to your mobile number
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