NAIROBI, June 5, 2025 — The Central Bank of Kenya (CBK) has announced the licensing of 41 additional Digital Credit Providers (DCPs), bringing the total number of licensed entities to 126. This licensing, conducted under Section 59(2) of the Central Bank of Kenya Act, follows the approval of 27 providers in October 2024.
Since March 2022, CBK has received over 700 applications from DCPs and has been meticulously reviewing these submissions in collaboration with applicants. The process has also involved consultations with relevant regulatory agencies, including the Office of the Data Protection Commissioner.
CBK emphasized that its review process prioritizes business model evaluation, consumer protection measures, and the integrity of proposed stakeholders, including shareholders, directors, and management teams. These efforts aim to ensure adherence to applicable laws while safeguarding consumer interests.
Details of the 41 newly licensed DCPs are available on the CBK’s website. Meanwhile, several applications remain under review, with CBK urging applicants to expedite the submission of any pending documentation.
The CBK’s focus on licensing and oversight was largely driven by public concerns over unethical practices by unregulated digital lenders. Issues raised include excessive loan costs, abusive debt collection methods, and misuse of personal data. The CBK continues to encourage the public to report any unregulated digital lending practices via dcps@centralbank.go.ke.
As CBK tightens its regulatory oversight, the initiative reflects its commitment to promoting transparency and consumer protection in Kenya’s rapidly growing digital credit market.
