Credit reference bureau services provider Metropol is set to transfer its assets and some of its liabilities to a new party named Geni, that will continue with the business of generating reports on borrowers' creditworthiness.
Geni 2 (Kenya) Limited will take over Metropol Corporation Limited's assets and select liabilities while a similar transaction will be done by Metropol Credit Reference Bureau Limited and Geni 1 Kenya Limited.
In a public notice, the firm says only certain assets and liabilities will be taken over by Geni, which will continue operating as a credit reference bureau, serving various clients including banks and other lenders.
“The business of collection, analytics, credit rating and other related activities currently operated by Metropol Corporation Limited …will be transferred to Geni 2 (Kenya) Limited," reads the notice dated April 11, 2025.
“The transferee will only assume specific liabilities related to the transfer business and transfer assets from the date of the transfer.”
Metropol is licensed by the Central Bank of Kenya to provide credit reference bureau services to all banks in Kenya.
It has been providing credit rating services to help businesses raise capital and meet their financing needs.
“Certain assets and liabilities will be excluded from transfer as agreed by the parties,” said Metropol.
The Kenyan credit referencing market has had three licensed players including Metropol, Credit Reference Bureau Africa Limited (trading as TransUnion) and Creditinfo.
These companies collect data on loans issued by lending institutions, and consequently create reports (known as credit reports) on a borrower's current and past loans.
Metropol entered into the agreement to transfer its assets to Geni Limited in December 2024.
Metropol has asked creditors with concerns about the transaction and how it could potentially affect them to visit their offices within two months from April 11.
“Any creditor (including an employee, director, shareholder or supplier) who think they would be adversely affected by the intended transfer of assets and business is invited to contact the Company Secretary at the MCRB's offices at KCB Towers within two months of the publication of this Notice stating the grounds and or basis of their concern," the notice says.
