List Of 22 Mobile Loan Providers Approved By CBK
CBK stated on Monday, January 30 that the licensing is pursuant to Section 59(2) of the Central Bank of Kenya Act (CBK Act).
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The Central Bank of Kenya (CBK) has announced the licensing of 12 more Digital Credit Providers (DCPs), bringing the number of approved Digital Credit Lenders in Kenya to 22.
CBK stated on Monday, January 30 that the licensing is pursuant to Section 59(2) of the Central Bank of Kenya Act (CBK Act).
"CBK has received 381 applications since March 2022 and has worked closely with the applicants in reviewing their applications. Additionally, CBK has engaged other regulators and agencies pertinent to the licensing process, including the Office of the Data Protection Commissioner," CBK said.
CBK further noted that the focus of the engagements has been inter alia on business models, consumer protection and fitness and propriety of proposed shareholders, directors, and management.
CBK Governor Patrick Njoroge. /FILE
This is to ensure adherence to the relevant laws and importantly that the interests of customers are safeguarded.
CBK further acknowledged the efforts of the applicants and the support of other regulators and agencies in this process.
"Other applicants are at different stages in the process, largely awaiting the submission of requisite documentation. We urge these applicants to submit the pending documentation expeditiously to enable the completion of the review of their applications," added CBK.
Reports by the public on unregulated DCPs can be sent through dcps@centralbank.go.ke.
CBK affirmed that the licensing and oversight of DCPs as indicated previously was precipitated by concerns raised by the public about the predatory practices of the unregulated DCPs, and in particular, their high cost, unethical debt collection practices, and the abuse of personal information.
Here is the full list of 22 licensed Digital Credit Providers:
1. Ceres Tech Limited
2. Getcash Capital Limited
3. Giando Africa Limited (Trading as Flash Credit Africa)
4. Jijenge Credit Limited
5. Kweli Smart Solutions Limited
6. Inventure Mobile Limited (Trading as Tala)
7. Jumo Kenya Limited
8. Letshego Kenya Ltd
9. MFS Technologies Limited
10. M-Kopa Loan Kenya Limited
11. Mwanzo Credit Limited
12. Mycredit Limited
13. MyWagepay Limited
14. Natal Tech Company Limited
15. Ngao Credit Limited
16. Pezesha Africa Limited
17. Rewot Ciro Limited
18. Sevi Innovation Limited
19. Sokohela Limited
20. Tenakata Enterprises Limited
21. Umoja Fanisi Limited
22. Zanifu Limited
