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File image of the Central Bank of Kenya (CBK) buildings in Nairobi.
The Central Bank of Kenya (CBK) has licensed 27 additional Digital Credit Providers (DCPs), pushing the total number of licensed lenders to 153.
CBK, in the announcement made on Thursday, said this comes three months after 41 DCPs were licensed in June 2025.
Since March 2022, the regulator says it has received more than 700 applications and has been engaging applicants on areas such as business models, consumer protection, and the integrity of proposed shareholders, directors and management teams.
βAs of June 2025, licensed DCPs had granted 5.5 million loans valued at Ksh.76.8 billion. Other applicants are at different stages in the process, largely awaiting the submission of requisite documentation,β CBK stated.
The regulator said the engagements seek to ensure applicants comply with the law and that customer interests are safeguarded, citing past concerns about predatory lending practices, unethical debt collection methods and misuse of personal data by unregulated players.
CBK further noted that DCPs mostly issue loans digitally through USSD platforms, with products ranging from education and development loans to short-term personal loans, asset financing and business loans.
Details of the newly licensed firms have been published on the CBK website, while other applicants are still at different stages of the approval process, some awaiting submission of required documents.
Β©Citizen Digital, Kenya
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- CBK said this comes three months after 41 DCPs were licensed in June 2025.
- Since March 2022, the regulator says it has received more than 700 applications and has been engaging applicants.
File image of the Central Bank of Kenya (CBK) buildings in Nairobi.
The Central Bank of Kenya (CBK) has licensed 27 additional Digital Credit Providers (DCPs), pushing the total number of licensed lenders to 153.
CBK, in the announcement made on Thursday, said this comes three months after 41 DCPs were licensed in June 2025.
Since March 2022, the regulator says it has received more than 700 applications and has been engaging applicants on areas such as business models, consumer protection, and the integrity of proposed shareholders, directors and management teams.
βAs of June 2025, licensed DCPs had granted 5.5 million loans valued at Ksh.76.8 billion. Other applicants are at different stages in the process, largely awaiting the submission of requisite documentation,β CBK stated.
The regulator said the engagements seek to ensure applicants comply with the law and that customer interests are safeguarded, citing past concerns about predatory lending practices, unethical debt collection methods and misuse of personal data by unregulated players.
CBK further noted that DCPs mostly issue loans digitally through USSD platforms, with products ranging from education and development loans to short-term personal loans, asset financing and business loans.
Details of the newly licensed firms have been published on the CBK website, while other applicants are still at different stages of the approval process, some awaiting submission of required documents.
Β©Citizen Digital, Kenya
Continue reading...
