LIST | Central Bank of Kenya Grants Licenses to 19 More Digital Lending Companies Bringing the Total to 51

The Central Bank of Kenya has granted fresh licenses to 19 digital lending services, adding to the 32 that were announced in March 2023.

Officially termed as Digital Credit Providers (DCPs), the move by CBK brings to 51 the total number of services under the regulatory regime. The bank commenced regulation of digital lenders in March 2022 requiring the lending services to apply for new licenses by September 17, 2022, or cease operations.

The newly licensed lenders include:

• Lipa Later Limited
• Ceres Tech
• Azura Credit
• Chapeo Capital
• Chime Capital
• Creditarea Capital
• Decimal Capital
• Dexintec Kenya Limited
• Factorhouse Limited
• Fezotech Kenya Limited
• Fortune Credit Limited
• Lobelitec Credit
• Maralal Ledger
• Marble Capital Solutions
• MKM Capital
• Pi Capital Limited
• Senti Capital
• UbaPesa Limited
• Zillions Credit Limited

“We acknowledge the efforts of the applicants and the support of other regulators and agencies in this process,” CBK adds in the statement.

The full list of accreddited digital lenders in Kenya:

1. Anjoy Credit Limited
2. Asante FS East Africa Limited
3. Autochek Limited
4. Azura Credit Limited
5. Ceres Tech Limited
6. Chapeo Capital Limited
7. Chime Capital Limited
8. Colkos Enterprises Limited
9. Creditarea Capital Limited
10. Decimal Capital Limited
11. Dexintec Kenya Limited
12. EDOMX Limited
13. Extend Money Services Limited
14. Factorhouse Limited
15. Fezotech Kenya Limited
16. Fortune Credit Limited
17. Fourth Generation Capital Limited
18. Getcash Capital Limited
19. Giando Africa Limited (Trading as Flash Credit Africa)
20. Inventure Mobile Limited (Trading as Tala)
21. Jijenge Credit Limited
22. Jumo Kenya Limited
23. Kweli Smart Solutions Limited
24. Letshego Kenya Ltd
25. Lipa Later Limited
26. Little Pesa Limited
27. Lobelitec Credit Limited
28. Maralal Ledger Limited
29. Marble Capital Solutions Limited
30. MKM Capital Limited
31. MFS Technologies Limited
32. M-Kopa Loan Kenya Limited
33. Mwanzo Credit Limited
34. Mycredit Limited
35. MyWagepay Limited
36. Natal Tech Limited
37. Ngao Credit Limited
38. Okolea International Limited
39. Pezesha Africa Limited
40. Pi Capital Limited
41. Rewot Ciro Limited
42. Risine Credit Limited
43. Senti Capital Limited
44. Sevi Innovation Limited
45. Sokohela Limited
46. Tenakata Enterprises Limited
47. UbaPesa Limited
48. Umoja Fanisi Limited
49. Zanifu Limited
50. Zenka Digital Limited
51. Zillions Credit Limited

The decision by the government to regulate digital lenders came following concerns from the public about poor practices from digital lenders. Some of the practices that irked Kenyans include:

• High-interest rates
• Over-indebtedness
• Unethical collection practices
• Personal data abuse

As reported by BitKE, in December 2022, to address some of these concerns, the government introduced its digital lending platform called Hustler Fund.

The Hustler fund, a signature campaign promise by current President William Ruto, can be accessed via USSD by dialing *254# from any of the country’s three mobile phone network providers.