CBK Approves Licenses for 7 Additional Digital Credit Providers

The Central Bank of Kenya (CBK) has announced the licensing of seven new Digital Credit Providers (DCPs), bringing the total number of licensed lenders in the country to 58. This follows the issuance of licenses to 19 DCPs in March 2024.

This milestone represents continued progress in regulating Kenya’s digital credit market. Since March 2022, the CBK has received over 550 applications and has been working closely with applicants throughout the review process. This collaborative effort involves other regulators and agencies, such as the Office of the Data Protection Commissioner.

The stringent review process focuses on several key areas. Business models are examined to ensure responsible lending practices. Consumer protection is prioritized, with steps taken to safeguard customer interests. Additionally, the fitness and propriety of proposed shareholders, directors, and management are evaluated to ensure responsible leadership within these companies.

The CBK acknowledges the efforts of both applicants and collaborating institutions in this process. While seven applicants have been successful, others are at various stages of the licensing journey. The CBK urges these remaining applicants to expedite the submission of any required documentation to facilitate a swift review of their applications.

This initiative to license and oversee DCPs addresses previous public concerns. Unregulated lenders were often criticized for predatory practices, including exorbitant interest rates, unethical debt collection tactics, and misuse of personal information. The CBK’s actions aim to resolve these issues and promote a more responsible and transparent digital credit market in Kenya.

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The CBK encourages citizens to report any unregulated DCPs they encounter. Reports can be submitted electronically to deps@centralbank.go.ke.

Here is the full list of licensed digital credit lenders in Kenya:

  1. Anjoy Credit Limited
  2. Asante FS East Africa Limited
  3. Autochek Limited
  4. Azura Credit Limited
  5. Ceres Tech Limited
  6. Chime Capital Limited
  7. Colkos Enterprises Limited
  8. Creditarea Capital Limited
  9. Chapeo Capital Limited
  10. Decimal Capital Limited
  11. Dexintec Kenya Limited
  12. ED Partners Africa Limited
  13. EDOMX Limited
  14. Extend Money Services Limited
  15. Factorhouse Limited
  16. Fezotech Kenya Limited
  17. Fortune Credit Limited
  18. Fourth Generation Capital Limited
  19. Getcash Capital Limited
  20. Giando Africa Limited (Trading as Flash Credit Africa)
  21. Inventure Mobile Limited (Trading as Tala)
  22. Ismuk Credit Limited
  23. Jijenge Credit Limited
  24. Jumo Kenya Limited
  25. Kweli Smart Solutions Limited
  26. Letshego Kenya Ltd
  27. Lipa Later Limited
  28. Little Pesa Limited
  29. Lobelitec Credit Limited
  30. Maralal Ledger Limited
  31. Marble Capital Solutions Limited
  32. Mint Credit Limited
  33. MFS Technologies Limited
  34. MKM Capital Limited
  35. M-Kopa Loan Kenya Limited
  36. Mogo Auto Limited
  37. Mwanzo Credit Limited
  38. Mycredit Limited
  39. MyWagepay Limited
  40. Natal Tech Limited
  41. Ngao Credit Limited
  42. Okolea International Limited
  43. Payablu Credit Limited
  44. Pezesha Africa Limited
  45. Pi Capital Limited
  46. Progressive Credit Limited
  47. Rewot Ciro Limited
  48. Risine Credit Limited
  49. Senti Capital Limited
  50. Sevi Innovation Limited
  51. Sokohela Limited
  52. Stride Credit Limited
  53. Tenakata Enterprises Limited
  54. UbaPesa Limited
  55. Umoja Fanisi Limited
  56. Zanifu Limited
  57. Zenka Digital Limited
  58. Zillions Credit Limited

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