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...

The Digital Lenders Association of Kenya has rebranded to Digital Financial Services Association of Kenya (DFSAK) as the association reported disbursing over Ksh500 billion in mobile loans to small businesses and households over the last eight years. “With a robust regulatory environment and increasing consumer...

Tens of digital lenders in Kenya could be out of the market in six months after the Central Bank of Kenya (CBK) gazetted new rules. According to the Digital Credit Providers regulations, 2022, the lenders will have to get approval from the CBK for...

In 2021, President Kenyatta approved an amendment that gives the Central Bank of Kenya powers to license and oversee previously unregulated digital money lenders. Citing technology advances and ongoing innovation in the sector, the monetary authority recognised the growth of lending through digital channels (particularly via...

Digital Credit Providers (DCP) famously known as digital lenders or mobile loan apps have been given up to January 21, 2022, to register with the Central Bank of Kenya (CBK) or face closure. This follows a Presidential assent on December 7, 2021, on the Central...

The suspension of digital lenders from CRB reporting had seen a massive decline in the volumes of loans they issued. According to the industry lobby - the Digital Lenders Association of Kenya (DLAK) - the value of loans issued each month fell by over 50% to Ksh2 billion.