Central Bank of Kenya Licenses 32 More Digital Lenders, Total Hits 227

The Central Bank of Kenya (CBK) has announced the licensing of an additional 32 digital credit providers (DCPs), bringing the total number of approved firms to 227.

In a statement dated April 14, CBK said the move is in line with Section 59(2) of the Central Bank of Kenya Act and follows the earlier licensing of 42 providers in December 2025.

The regulator noted that it has received over 800 applications since March 2022 and has been working closely with applicants to ensure compliance with legal and regulatory requirements.

“CBK has engaged the applicants on their business models, consumer protection, fitness and propriety of proposed shareholders, directors and management,” the statement said.

The bank emphasized that the licensing process is aimed at safeguarding consumer interests while ensuring responsible lending practices in the fast-growing digital credit sector.

According to CBK, licensed digital lenders provide a range of loan products, including education loans, personal loans, asset financing and business loans, often delivered through mobile platforms such as Unstructured Supplementary Service Data (USSD).

As of February 2026, the licensed firms had collectively disbursed 7.5 million loans valued at KSh133.5 billion.

CBK also revealed that other applicants are still undergoing review, with many at advanced stages pending submission of required documentation. It urged those applicants to expedite the process to facilitate completion of their assessments.

The regulator further encouraged members of the public to report any concerns regarding digital lenders, particularly in relation to unethical practices.

The licensing and oversight of digital credit providers were introduced following widespread complaints about predatory lending, including high interest rates, unethical debt collection methods and misuse of personal data.

CBK said the continued regulation of the sector is intended to promote transparency, accountability and consumer protection in Kenya’s digital lending market.