List of newly approved digital lenders

The CBK said it has so far received 381 applications since March 2022.

by ROSA MUMANYI

News30 January 2023 - 14:39

In Summary

•The licencing and oversight of DCPs were necessitated by concerns raised by Kenyans over the predatory practices of unregulated digital lenders.

•The lenders had been accused of high repayment costs, unethical debt collection practices, and the abuse of personal information.

The Central Bank of Kenya has licenced additional 12 Digital Credit Providers, bringing the total to 22.

According to the CBK, licensing is in line with Section 59(2) of the Central Bank of Kenya Act (CBK Act).

The CBK said it has so far received 381 applications since March 2022.

The licensed DCPs include; Ceres Tech Limited, Getcash Capital Limited, Giando Africa Limited, Jijenge Credit Limited, Kweli Smart Solutions Limited, Inventure Mobile Limited, Jumo Kenya Limited, Letshego Kenya Ltd, MFS Technologies Limited, M-Kopa Loan Kenya Limited and Mwanzo Credit Limited.