CBK licenses 27 more digital credit providers
Business
By
Ronald Kipruto
| Sep 04, 2025
Central Bank of Kenya (CBK) Pension Towers located along Harambee Avenue in Nairobi CBD on March 07, 2024. [Stafford Ondego, Standard]
The Central Bank of Kenya (CBK) has licensed 27 additional Digital Credit Providers (DCPs), bringing the total number of approved firms to 153.
In a statement issued on Thursday, September 4, CBK said the move was in line with Section 59(2) of the CBK Act. This follows the licensing of 41 DCPs in June 2025.
Since March 2022, the regulator has received more than 700 applications, with many still under review pending the submission of required documents.
“The focus of engagements with applicants has been to align business models, enhance consumer protection, and assess the suitability of proposed shareholders, directors, and management,” CBK stated.
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The regulator noted that the licensing process is aimed at curbing unethical lending and debt collection practices that were rampant among unregulated digital lenders.
“As of June 2025, licensed DCPs had disbursed 5.5 million loans worth Sh76.8 billion. This licensing process ensures compliance with the law and safeguards the interests of consumers,” CBK added.
The bank further urged pending applicants to submit outstanding documents to facilitate the completion of their reviews.
For years, digital lenders have faced criticism over predatory practices, including exorbitant interest rates, aggressive debt collection, and misuse of personal data.
Some of the lenders include Bytech Credit Limited, Chime Capital Limited, Dexintec Kenya Limited, Colkos Enterprises Limited and Ceres Tech Limited among other.