The Central Bank of Kenya (CBK) has licenced ten more Digital Credit Providers (DCPs), bringing the total number of licenced DCPs to 32.
This move is a result of the CBK Act, which aims to regulate the digital credit industry and protect consumers from unethical practises.
Since March 2022, the CBK has received 401 applications and has worked closely with applicants to review their applications, engaging with other relevant regulators and agencies.
The emphasis has been on business models, consumer protection, and the fitness and propriety of proposed shareholders, directors, and management to ensure compliance with relevant laws and the protection of customers’ interests.
The CBK encourages pending applicants to submit all required documentation as soon as possible.
The digital lenders 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.
