The Central Bank of Kenya (CBK) has licensed 10 additional digital credit lenders, bringing to 32 the total number of providers cleared to operate in the country.
CBK said in a statement on Monday that it had received 401 applications since March last year and that other applications are at different stages in the licencing process awaiting submission of requisite documentation.
The top bank had in January this year licenced 22 digital credit providers, among them Pezesha and Jumo.
The accreditation is part of regulations introduced last year to weed out rogue players in the industry as well as control how lenders use consumer data.
Google has also since started taking down apps from its Play Store in the country since the new policies went into effect in January.
The lenders are now required to submit proof of license before being allowed on the app store.
Prior to the policies, many of the lenders gave quick, unsecured personal or business loans at unregulated interest rates.
They were also accused of sharing customer data with third parties and using debt-shaming tactics to recover their money.
Here is the full list of the 32 accredited lenders:
- Anjoy Credit Limited
- Asante FS East Africa Limited
- Ceres Tech Limited
- Colkos Enterprises Limited
- EDOMX Limited
- Extend Money Service Limited
- Fourth Generation Capital Limited
- Getcash Capital Limited
- Giando Africa Limited (Trading as Flash Credit Africa)
- Inventure Mobile Limited (Trading as Tala)
- Jijenge Credit Limited
- Jumo Kenya Limited
- Kweli Smart Solutions Limited
- Letshego Kenya Ltd
- Little Pesa Limited
- MFS Technologies Limited
- M-Kopa Loan Kenya Limited
- Mwanzo Credit Limited
- Mycredit Limited
- MyWagepay Limited
- Natal Tech Company Limited
- Ngao Credit Limited
- Okolea International Limited
- Pezesha Africa Limited
- Rewot Ciro Limited Postal
- Risine Credit Limited
- Sevi Innovation Limited
- Sokohela Limited
- Tenakata Enterprises Limited
- Umoja Fanisi Limited
- Zanifu Limited
- Zenka Digital Limited
