The Central Bank of Kenya (CBK) has announced the licensing of 27 additional Digital Credit Providers (DCPs) as part of the government’s initiative to protect Kenyans from unethical digital lenders. This brings the total number of licensed providers to 85 since the licensing process commenced. The CBK noted that it has received over 730 applications since March 2022.
In its statement, the CBK confirmed that other applications are still under review, pending the submission of necessary documents by the respective providers. “We urge the remaining applicants to submit the pending documentation to enable completion of the review of their applications,” the statement read.
Additionally, the CBK encouraged the public to report unregulated digital lenders through its official channels. “The licensing and oversight of DCPs was precipitated by concerns raised by the public about the predatory practices of unregulated DCPs, particularly regarding their high costs, unethical debt collection practices, and the misuse of personal information,” the CBK added.
Here is the list of the 27 newly licensed Digital Credit Providers:
1. Ambush Capital Limited (trading under FlashPesa)
2. Bytech Credit Limited
3. Dime Credit Limited
4. Dreamlife Technology Limited
5. Ellegant Credit Limited
6. Fahari Point Capital Limited
7. Fincorp Credit Limited
8. Hela Capital Limited
9. Inspire Credit Limited
10. Lenana Innovative Solutions Limited
11. LockBx Limited
12. Momentum Credit Limited
13. MCF 2 Kenya Limited
14. ODI Credit Limited
15. Opal Quick Limited
16. Pesaglow Capital Limited
17. Pesakuu Credit Limited
18. Phoenix Capital Limited
19. Premier Credit Limited
20. Puphik Credit Limited
21. Radi Credit Limited
22. Simplepay Capital Limited
23. Siti Mobility Technologies Limited
24. Sure Cred Capital Limited
25. Tanir Credit & Accounting Services Limited
26. Tip-Point Capital Limited
27. Treasure Store Limited
