The Central Bank of Kenya (CBK) has announced the licensing of an additional 19 Digital Credit Providers (DCPs), in a move to address concerns raised by the public regarding the operations of unregulated DCPs.

This announcement, made pursuant to Section 59(2) of the Central Bank of Kenya Act (CBK Act), brings the total number of licensed DCPs to 51, following the initial licensing of 32 DCPs in March 2023.

Since March 2022, the CBK has received a staggering 480 applications from various entities seeking to operate as DCPs in the country.

Working closely with these applicants, the CBK notes has diligently reviewed their applications, focusing on aspects such as business models, consumer protection measures, and the fitness and propriety of proposed shareholders, directors, and management.

The engagement process has also involved collaboration with other regulatory bodies and agencies, including the Office of the Data Protection Commissioner.

“This collective effort aims to ensure strict adherence to relevant laws and, most importantly, to safeguard the interests of consumers,” CBK noted.

In a statement released on March 6, 2024, the CBK expressed appreciation for the efforts of the applicants and the support received from other regulators and agencies throughout the licensing process.

While the details of the 51 licensed DCPs are available for public access, the CBK notes that several other applicants are at various stages of the licensing process, pending the submission of necessary documentation.

The CBK urges these applicants to expedite the submission of required documentation to facilitate the completion of the review process.

To further strengthen consumer protection measures, the CBK has established a reporting mechanism for the public to raise concerns regarding unregulated DCPs.

Reports on unregulated DCPs can be sent to here, allowing for swift action to address any predatory practices, high costs, unethical debt collection practices, or abuse of personal information.

The licensing and oversight of DCPs underscore the CBK’s commitment to addressing public concerns regarding the operations of digital lenders.

By licensing additional DCPs and ensuring robust regulatory oversight, the CBK says it aims to promote responsible lending practices and protect the financial well-being of consumers across Kenya.

Here’s the complete list of all the licensed 51 digital credit providers in the country:

1. Anjoy Credit Limited
2. Asante FS East Africa Limited
3. Autochek Limited
4. Azura Credit Limited
5. Ceres Tech Limited
6. Chapeo Capital Limited
7. Chime Capital Limited
8. Colkos Enterprises Limited
9. Creditarea Capital Limited
10. Decimal Capital Limited
11. Dexintec Kenya Limited
12. EDOMX Limited
13. Extend Money Services Limited
14. Factorhouse Limited
15. Fezotech Kenya Limited
16. Fortune Credit Limited
17. Fourth Generation Capital Limited
18. Getcash Capital Limited
19. Giando Africa Limited (Trading as Flash Credit Africa)
20. Inventure Mobile Limited (Trading as Tala)
21. Jijenge Credit Limited
22. Jumo Kenya Limited
23. Kweli Smart Solutions Limited
24. Letshego Kenya Ltd
25. Lipa Later Limited
26. Little Pesa Limited
27. Lobelitec Credit Limited
28. Maralal Ledger Limited
29. Marble Capital Solutions Limited
30. MKM Capital Limited
31. MFS Technologies Limited
32. M-Kopa Loan Kenya Limited
33. Mwanzo Credit Limited
34. Mycredit Limited
35. MyWagepay Limited
36. Natal Tech Limited
37. Ngao Credit Limited
38. Okolea International Limited
39. Pezesha Africa Limited
40. Pi Capital Limited
41. Rewot Ciro Limited
42. Risine Credit Limited (Note: This may be Risine Credit Limited based on the email address)
43. Senti Capital Limited
44. Sevi Innovation Limited
45. Sokohela Limited
46. Tenakata Enterprises Limited
47. UbaPesa Limited
48. Umoja Fanisi Limited
49. Zanifu Limited
50. Zenka Digital Limited
51. Zillions Credit Limited