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CBK Licences 10 More Digital Lenders – Here’s The Full List

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The Central Bank of Kenya (CBK) has licensed 10 Digital  Credit Providers (DCPs), which brings the total number of licenced digital lenders to 32.

In a statement on Monday, March 27, 2023, CBK said it has received 401 applications since March 2022.

“CBK has engaged other regulators and agencies pertinent to the licensing process, including the Office of the  Data Protection Commissioner,” CBK said.

The focus of the engagements has been inter alia on business models, consumer protection and fitness and propriety of proposed shareholders, directors, and management. This is to ensure adherence to the relevant laws and importantly that the interests of customers are safeguarded.

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 completion of the review of their applications,” CBK added.

The licensing and oversight of DCPs 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’s the full list of licenced digital lenders:-

  1. Anjoy Credit Limited
  2. Asante FS East Africa Limited
  3. Ceres Tech Limited
  4. Colkos Enterprises Limited
  5. Edomx Limited
  6. Extend Money Service Limited
  7. Fourth Generation Capital Limited
  8. Getcash Capital Limited
  9. Giando Africa Limited (Trading as Flash Credit Africa)
  10. Inventure Mobile Limited (Trading as Tala)
  11. Jijenge Credit Limited
  12. Jumo Kenya Limited
  13. Kweli Smart Solutions Limited
  14. Letshego Kenya Ltd
  15. Little Pesa Limited
  16. MFS Technologies Limited
  17. M-Kopa Loan Kenya Limited
  18. Mwanzo Credit Limited
  19. Mycredit Limited
  20. MyWagepay Limited
  21. Natal Tech Company Limited
  22. Ngao Credit Limited
  23. Okolea International Limited
  24. Pezesha Africa Limited
  25. Rewot Ciro Limited
  26. Risine Credit Limited
  27. Sevi Innovation Limited
  28. Sokohela Limited
  29. Tenakata Enterprises Limited
  30. Umoja Fanisi Limited
  31. Zanifu Limited
  32. Zenka Digital Limited

Read: Kenya FX Code: CBK Swings Into Action To Calm Forex Markets

>>> Dr. Susan Koech: Meet New CBK Deputy Governor

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BT Reporter
BT Reporterhttp://www.businesstoday.co.ke
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