The Central Bank of Kenya has licensed a further 27 digital credit providers (DCPs) under Section 59(2) of the Central Bank of Kenya Act, taking the number of licensed DCPs to 153 following the licensing of 41 firms announced in June 2025. CBK reported receiving more than 700 applications since March 2022 and said its review has focused on applicants’ business models, consumer protection, and the fitness and propriety of proposed shareholders, directors and management. The bank noted that DCPs predominantly lend through digital channels including USSD, offering products such as education, development, short-term personal, asset-financing and business loans; as at June 2025, licensed DCPs had granted 5.5 million loans valued at KES 76.8 billion. CBK linked the introduction of DCP licensing and oversight to public concerns about unregulated lenders’ high costs, unethical debt collection practices and misuse of personal information. Other applicants remain in the pipeline and are largely awaiting submission of required documentation, which CBK urged them to provide to enable completion of the licensing review process.
Central Bank of Kenya 2025-09-04
Central Bank of Kenya licenses 27 additional digital credit providers, bringing the total to 153
The Central Bank of Kenya has licensed an additional 27 digital credit providers (DCPs), bringing the total to 153. The licensing process, initiated in response to concerns over unregulated lenders, focuses on business models, consumer protection, and the suitability of stakeholders. Since March 2022, over 700 applications have been received, with many still pending due to incomplete documentation.