CBK Announces 25 New Licensed Digital Lenders in Kenya

The Central Bank of Kenya (CBK) has licensed 25 additional Digital Credit Providers (DCPs), bringing the total number of licensed digital lenders in the country to 252.

In a press release dated July 14, CBK said the latest approvals were granted under Section 59(2) of the Central Bank of Kenya Act, following the licensing of 32 Digital Credit Providers in April 2026.

“The Central Bank of Kenya (CBK) announces the licensing of an additional 25 Digital Credit Providers (DCPs). This is pursuant to Section 59(2) of the Central Bank of Kenya Act (CBK Act). This brings the number of licensed DCPs to 252 following the licensing of 32 DCPS announced in April 2026,” read part of the press release.

CBK Says More Than 800 Applications Received on Digital Credit Licensing

According to the bank, it has received more than 800 applications from digital lenders since March 2022 and has been working with applicants to review their submissions.

CBK said the licensing process focuses on evaluating applicants’ business models, consumer protection measures and the suitability of proposed shareholders, directors and management teams.

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The bank also noted that the review process is intended to ensure compliance with the law while safeguarding the interests of customers.

Meanwhile, CBK said some applicants are still undergoing the licensing process, with many awaiting the submission of the required documentation.

The bank also urged the affected applicants to submit the outstanding documents promptly to facilitate the completion of their applications.

“We urge these applicants to submit the pending documentation expeditiously to enable completion of the review of their applications,” CBK stated.

Digital Lending Sector Continues to Grow

CBK further noted that licensed Digital Credit Providers primarily offer loans through digital platforms, including mobile applications and Unstructured Supplementary Service Data (USSD) services.

The institutions provide a range of credit products, including education loans, development loans, short-term personal loans, asset financing, and business loans.

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According to the bank, licensed Digital Credit Providers had issued more than 8.37 million loans worth Ksh150.56 billion as of May 2026.

CBK also encouraged members of the public to report unregulated Digital Credit Providers through deps@centralbank.go.ke.

The regulator said the licensing framework was introduced following complaints about predatory practices by unregulated digital lenders, including high borrowing costs, unethical debt collection methods and the misuse of customers’ personal information.

It added that the ongoing licensing and supervision of Digital Credit Providers is aimed at promoting responsible lending practices while protecting consumers in Kenya’s growing digital credit market.

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A photo showing the CBK press release notice on the approval of the 25 new digital credit providers. Photo/ CBK