10 More Digital Lenders Get CBK Approval To Operate In Kenya

This brings to 32 the total number of digital credit providers cleared to operate in the country. | FILE

By Dennis Musau 

The Central Bank of Kenya (CBK) has licensed 10 additional digital credit lenders, bringing to 32 the total number of providers cleared to operate in the country.

CBK said in a statement on Monday that it had received 401 applications since March last year and that other applications are at different stages in the licencing process awaiting submission of requisite documentation.

The top bank had in January this year licenced 22 digital credit providers, among them Pezesha and Jumo.

The accreditation is part of regulations introduced last year to weed out rogue players in the industry as well as control how lenders use consumer data.

Google has also since started taking down apps from its Play Store in the country since the new policies went into effect in January.

The lenders are now required to submit proof of license before being allowed on the app store.

Prior to the policies, many of the lenders gave quick, unsecured personal or business loans at unregulated interest rates.

They were also accused of sharing customer data with third parties and using debt-shaming tactics to recover their money.

Here is the full list of the 32 accredited 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 Postal

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