Good News to Kenyans as CBK Licenses 29 More Digital Loan Apps

The Central Bank of Kenya (CBK) has licensed 29 more digital credit providers, raising the number of regulated DCPs in the country to 281.

In a statement issued Wednesday, September 30, CBK said the new licences were issued under Section 59(2) of the Central Bank of Kenya Act (CBK Act), following the licensing of 25 providers announced in July 2026.

CBK has received more than 900 applications from digital credit providers since March 2022, with applicants undergoing reviews covering their business models, consumer protection measures and the fitness and propriety of proposed shareholders, directors and management.

CBK Gives Update on Digital Lenders

“The focus of the engagements with the DCPs has been inter alia business models, consumer protection and fitness and propriety of proposed shareholders, directors, and management,” the statement said

CBK said the engagements are aimed at ensuring compliance with relevant laws and, importantly, safeguarding customers’ interests. It also acknowledged applicants and other regulators and agencies for their role in the licensing process.

Also Read: CBK Gives Green Light for Access Bank Kenya’s Transfer to NBK

Licensed DCPs predominantly conduct lending activities digitally, including through Unstructured Supplementary Service Data (USSD) codes.

Their loan products include education loans, development loans, short-term personal loans, asset-financing and business loans.

Digital Lenders Issue 9.5 million Loans

Figures from CBK show that licensed DCPs had granted 9,596,509 loans valued at Ksh 165.1 billion by August 2026.

Meanwhile, other applicants remain at different stages of the licensing process, with many largely awaiting submission of requisite documentation.

CBK has urged applicants to submit pending documents expeditiously to enable completion of reviews.

Also Read: CBK Reveals Banks With Lowest Interest Rates as of July 2026

Members of the public can report unregulated DCPs through dcps@centralbank.go.ke.

CBK said licensing and oversight of digital credit providers followed concerns raised by the public over practices by unregulated lenders, including high costs, unethical debt collection and abuse of personal information.

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Central Bank of Kenya headquarters in Nairobi. CBK has licensed 29 additional digital credit providers, bringing the total number of licensed DCPs to 281. PHOTO/ Nairobi Leo