NAIROBI, Kenya – The Central Bank of Kenya (CBK) has licensed 27 additional Digital Credit Providers (DCPs), bringing the number of approved firms to 153 as the regulator tightens oversight of the fast-growing mobile lending sector.
The latest approvals, announced on September 4, follow the licensing of 41 providers in June this year.
Since opening the window for applications in March 2022, CBK has received more than 700 submissions, most of which remain under review.
The regulator said its engagements with applicants have focused on business models, consumer protection, and the integrity of shareholders, directors, and management teams.
“This is to ensure adherence to the relevant laws and, importantly, that the interests of customers are safeguarded,” CBK said in a statement.
Licensed digital lenders provide mobile and online loans via apps and USSD platforms, ranging from short-term personal loans to education, asset financing, and business credit. As of June 2025, they had issued 5.5 million loans worth Sh76.8 billion.
The CBK urged pending applicants to submit outstanding documentation “expeditiously” to fast-track approvals and reminded Kenyans to report unregulated lenders via dcps@centralbank.go.ke.
Oversight of DCPs was introduced following public outcry over predatory practices by unregulated lenders, including exorbitant interest rates, aggressive debt collection, and misuse of personal data.
A full list of the newly licensed providers has been published on the CBK website.
