CBK Licenses 19 More Digital Lenders to Operate in Kenya, bringing to 51 the total number of licensed digital lenders.
In a statement released on Wednesday 6th March 2024, the Central Bank of Kenya (CBK) announced the licensing of nineteen (19) more Digital Credit Providers (DCPs) to operate in Kenya. This brings the number of digital lenders licensed to operate in the country to fifty-one (51) following the licensing of 32 digital lenders announced in March 2023.
CBK said that they had received 480 applications since March 2022 and has worked closely with the applicants in reviewing their applications. Additionally, CBK noted that they have engaged other regulators and agencies pertinent to the licensing process, including the Office of the Data Protection Commissioner.
Some of the lenders licensed include Little Pesa Limited, Lipa Later Limited, Maralal Ledger Limited, M-Kopa Loan Kenya Limited, and Ngao Credit Limited, among others.
List of the 19 Digital Lenders licensed to Operate in Kenya in March 2024
- Autochek
- Azura Credit
- Chapeo Capital
- Chime Capital
- Creditarea Capital
- Decimal Capital
- Dexintec Kenya
- Factorhouse
- Fezotech Kenya
- Fortune Credit
- Lipa Later
- Lobelitec Credit
- Maralal Ledger
- Marble Capital Solutions
- MKM Capital
- Pi Capital
- Senti Capital
- UbaPesa
- Zillions Credit
Full List of the 51 Digital Lenders Licensed to Operate in Kenya;
- Anjoy Credit Limited
- Asante FS East Africa Limited
- Ceres Tech Limited
- Colkos Enterprises Limited
- EDOMX Limited
- Extend Money Service Limited
- Fourth Generation Capital Limited
- Getcash Capital Limited
- Giando Africa Limited (Trading as Flash Credit Africa)
- Inventure Mobile Limited (Trading as Tala)
- Jijenge Credit Limited
- Jumo Kenya Limited
- Kweli Smart Solutions Limited
- Letshego Kenya Ltd
- Little Pesa Limited
- MFS Technologies Limited
- M-Kopa Loan Kenya Limited
- Mwanzo Credit Limited
- MyCredit Limited
- MyWagepay Limited
- Natal Tech Company Limited
- Ngao Credit Limited
- Okolea International Limited
- Pezesha Africa Limited
- Rewot Ciro Limited
- Risine Credit Limited
- Sevi Innovation Limited
- Sokohela Limited
- Tenakata Enterprises Limited
- Umoja Fanisi Limited
- Zanifu Limited
- Zenka Digital Limited
- Autochek
- Azura Credit
- Chapeo Capital
- Chime Capital
- Creditarea Capital
- Decimal Capital
- Dexintec Kenya
- Factorhouse
- Fezotech Kenya
- Fortune Credit
- Lipa Later
- Lobelitec Credit
- Maralal Ledger
- Marble Capital Solutions
- MKM Capital
- Pi Capital
- Senti Capital
- UbaPesa
- Zillions Credit
CBK has also urged applicants at different stages in the licensing process to submit the pending documentation expeditiously to enable completion of the review of their applications.
The licensing of digital lenders is part of regulations introduced last year to regulate the booming industry, protect consumers against exorbitant interest rates by fraudulent lenders, and control how lenders process consumer data. Sign up with CBK approved loan apps to protect yourself against abuse.
