CBK clears 27 more digital lenders, total licensed rises to 153

The Central Bank of Kenya (CBK) has granted operating licences to 27 additional digital credit providers, expanding regulatory oversight in the fast-growing digital lending sector and reinforcing measures to protect borrowers.

With the latest approvals, the number of regulated digital credit providers (DCPs) now stands at 153.

This follows the licensing of 41 more providers in June 2025, marking steady progress since the regulatory framework was introduced.

CBK said the licensing process is anchored on Section 59(2) of the Central Bank of Kenya Act, which empowers the regulator to supervise DCPs.

Among those cleared include Abito Limited, Ajax Credit Kenya Limited, Aspire Lending Ltd, Bossrich Credit Limited, Brisk Credit Limited, Easy Asset Management Limited, Easyways Credit Limited, Elevate Credit Limited, Finseil Limited and Futureinno Digital Tech Limited.

Since March 2022, the regulator has received more than 700 applications.

It said it has worked closely with applicants to review submissions, focusing on compliance with laws and safeguarding customers.

“The focus of the engagements with DCPs has been inter alia on business models, consumer protection and fitness and propriety of proposed shareholders, directors, and management. This is to ensure adherence to the relevant laws and, importantly, that the interests of customers are safeguarded,” CBK said in a statement on Thursday.

The Bank also recognised “the efforts of the applicants and the support of other regulators and agencies in this process.”

Digital credit providers mainly issue loans through mobile and online platforms, including Unstructured Supplementary Service Data (USSD).

Their products cover a wide range of needs such as education loans, development loans, personal loans, asset financing and business credit.

CBK disclosed that as of June 2025, licensed DCPs had disbursed 5.5 million loans valued at Sh76.8 billion.

The regulator said information on the newly licensed 27 DCPs is available publicly, while other applicants are at different stages of the review, mostly pending submission of required documents.

It urged applicants to present the outstanding paperwork promptly to speed up approvals.

Kenyans have also been asked to report unregulated lenders through dops@centralbank.go.ke.

CBK noted that its licensing and monitoring efforts were driven by public complaints about the practices of unregulated DCPs, particularly high lending costs, unethical debt recovery tactics, and misuse of personal data.