CBK Licenses 42 More Digital Credit Providers, Bringing Total to 195
The Central Bank of Kenya (CBK) has licensed an additional 42 Digital Credit Providers (DCPs), raising the total number of approved lenders to 195.
The licensing was conducted pursuant to Section 59(2) of the Central Bank of Kenya Act and follows the approval of 27 DCPs announced in September 2025. CBK said the move is part of its ongoing efforts to regulate the fast-growing digital lending sector and protect consumers.
Since March 2022, the regulator has received more than 800 applications from firms seeking approval to operate as digital lenders. CBK noted that it has worked closely with applicants, assessing their business models, consumer protection frameworks, and the fitness and propriety of shareholders, directors, and senior management.
“This is to ensure compliance with relevant laws and, importantly, that the interests of customers are safeguarded,” the CBK said, while acknowledging the cooperation of applicants and support from other regulators and agencies during the review process.
Licensed DCPs primarily offer loans through digital platforms, including mobile applications and Unstructured Supplementary Service Data (USSD) codes. Their products range from education and development loans to short-term personal credit, asset financing, and business loans.
As at November 2025, licensed digital lenders had issued about 6.6 million loans valued at KSh 109.8 billion, highlighting the sector’s growing role in financial access.
CBK said other applicants are still at various stages of the licensing process, with many awaiting submission of required documentation. The regulator urged them to submit the pending information promptly to allow completion of their reviews.
Members of the public have also been encouraged to report unregulated digital lenders to the CBK via deps@centralbank.go.ke.
The regulation and licensing of DCPs was prompted by widespread public complaints over predatory lending practices by unregulated firms, including high interest rates, unethical debt collection methods, and abuse of customers’ personal data.
CBK reaffirmed its commitment to ensuring a fair, transparent, and consumer-friendly digital credit market in Kenya.