NAIROBI, Kenya — The Central Bank of Kenya (CBK) has licensed 29 additional Digital Credit Providers (DCPs), bringing the number of regulated digital lenders in the country to 281.
The latest licensing, announced on September 30, 2026, was done under Section 59(2) of the Central Bank of Kenya Act.
The announcement follows the licensing of 25 DCPs in July, as the regulator continues efforts to bring digital lenders under formal oversight.
CBK Receives More Than 900 Applications
CBK said it has received more than 900 applications for digital credit provider licences since March 2022.
The regulator said its assessment of applicants has focused on their business models, consumer protection measures and the fitness and propriety of proposed shareholders, directors, and management.
CBK said the process is intended to ensure compliance with the law and safeguard the interests of customers.
Other applicants remain at different stages of the licensing process, with many awaiting submission of required documentation.
The Central Bank has urged the applicants to submit the outstanding documents promptly to facilitate completion of the reviews.
Digital Lenders Have Issued Sh165.1 Billion In Loans
Licensed DCPs offer most of their loans digitally, including through Unstructured Supplementary Service Data (USSD) platforms.
Their products include education loans, development loans, short-term personal loans, asset financing and business loans.
According to CBK, licensed DCPs had issued 9,596,509 loans worth Sh165.1 billion as of August 2026.
The regulator said members of the public can report unregulated digital credit providers through its dedicated reporting channel.
Licensing Follows Concerns Over Digital Lenders
CBK said the licensing and supervision of DCPs followed concerns raised by the public over practices by unregulated digital lenders.
The concerns included high lending costs, unethical debt collection methods and misuse of customers’ personal information.
The regulator said it has worked with applicants as well as other regulators and government agencies throughout the licensing process.
CBK said the details of the 29 newly licensed digital credit providers are available through the regulator’s official channels.
