List Of Mobile Loan Providers Approved By CBK So Far

The Central Bank of Kenya (CBK) has announced the licensing of 10 more Digital Credit Providers (DCPs), bringing the number of approved Digital Credit Lenders in Kenya to 32.

In a statement, CBK noted that the 32 firms are allowed to offer digital credit services to Kenyans, out of the 401 applications filed since March 2022.

"The focus of the engagements has been inter alia on business models, consumer protection and fitness propriety of proposed shareholders, directors, and management," CBK said in a statement.

CBK Governor Patrick Njoroge. /FILE

"This is to ensure adherence to the relevant laws and importantly that the interests of customers are safeguarded. We acknowledge the efforts of the applicants and the support of other regulators and agencies in this process." 

CBK however noted that they are still processing more applications at different stages as the regulator awaited specific documents to enable the completion of the review of their applications.

The digital lenders now include Anjoy Credit Limited, Asante FS East Africa Limited, Ceres Tech Limited, Colkos Enterprises Limited, EDOMX Limited, Extend Money Service Limited and Fourth Generation Capital Limited. 

Others include Getcash Capital Limited, Giando Africa Limited (Trading as Flash Credit Africa) and Inventure Mobile Limited (Trading as Tala). 

The list also includes 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 and Okolea International Limited.

The final eight involved Pezesha Africa Limited, Rewot Ciro Limited, Risine Credit Limited, Sevi Innovation Limited, Sokohela Limited, Tenakata Enterprises Limited, Umoja Fanisi Limited, Zanifu Limited and Zenka Digital Limited.

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 stated at the time.

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 [email protected].