Metropol Credit Reference Bureau (CRB) Limited, one of Kenya’s three licensed credit reference bureaus, has officially announced the transfer of its business operations and related assets to GENI 1 Kenya Limited.
In a public notice dated April 11, 2025, Metropol CRB stated that the transfer will occur through an Asset Transfer Agreement signed between the two companies.
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Consequently, GENI 1 Kenya Limited is set to take over all credit reference operations currently managed by Metropol.
Moreover, the transfer includes the entirety of Metropol’s credit reference business, systems, and infrastructure. However, certain contracts, liabilities, and other specified exclusions will not form part of the agreement.
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“This transfer will occur subject to the fulfilment of certain conditions outlined in an Asset Purchase Agreement dated 31st December 2022, entered into by the Transferor and Transferee.
“Certain assets and liabilities will be excluded from transfer as agreed by the parties and set out in the Agreement,” read the notice in part.
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Metropol CRB Explains Reason for the Transfer
According to the notice, the move is aimed at ensuring continuity of services without disruption to customers, lenders, or institutions that rely on Metropol’s credit data.
“The Transferee intends to continue carrying on the business of a credit reference bureau based on the terms, operations, and related activities of the Transferor,” the notice added.
Furthermore, the transaction has been approved by the Central Bank of Kenya (CBK), which regulates the operations of credit reference bureaus under the Credit Reference Bureau Regulations (Chapter 488 of the Laws of Kenya).
Therefore, all creditors, clients, and stakeholders have been invited to raise any objections or concerns related to the transfer within two months from the date of the notice, as per the Transfer of Businesses Act (Chapter 500 of the Laws of Kenya).
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Notice to Employees, Clients, Shareholders or Other Parties
After the transfer is complete, GENI 1 Kenya Limited will assume the ongoing responsibilities, including data handling and compliance with regulatory obligations.
Further, legal advisors for the transaction include Anjarwalla & Khanna LLP, representing the Transferee (GENI 1 Kenya), and PACIFS Advisory Limited, serving as the transaction advisor for Metropol CRB.
“The Transferee will not assume specific liabilities related to the Transfer Business and Transfer Assets from the date of this transfer.
“Any creditor (including an employee, client, shareholder or other party) who may claim against the Transferor or who has an interest or assessment in the business is invited to contact the Company Secretary at the MCRB offices at KCB Towers within two months of the publication of this Notice stating the grounds and or basis of their concern,” indicated Metropol.
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