The Central Bank of Kenya (CBK) has licensed 25 additional Digital Credit Providers (DCPs), increasing the total number of approved digital lenders in the country to 252.
In a statement issued on Tuesday, July 14, the regulator said the latest approvals were granted under Section 59(2) of the Central Bank of Kenya Act.
The new licenses come three months after CBK approved 32 Digital Credit Providers in April 2026.
CBK revealed that it has received more than 800 applications for digital lending licenses since the licensing framework came into effect in March 2022.
The Central Bank of Kenya (CBK). Photo: Courtesy.
The bank said it has continued reviewing applications in collaboration with applicants to ensure they meet the required regulatory standards.
According to the regulator, the assessment process examines applicants’ business models, consumer protection measures and the suitability of shareholders, directors and senior management before licenses are issued.
The bank explained that the rigorous review is aimed at ensuring digital lenders operate within the law while safeguarding the interests of borrowers who rely on their services.
CBK also acknowledged the cooperation of applicants and the support of other government agencies and regulators in facilitating the licensing process.
The regulator noted that Digital Credit Providers primarily issue loans through digital channels, including mobile applications and Unstructured Supplementary Service Data (USSD) platforms.
It added that the licensed firms offer a wide range of financial products, including education loans, business loans, development financing, asset financing and short-term personal loans.
Despite the latest approvals, CBK said a significant number of applications are still under review. It urged applicants with pending documentation to submit the required information promptly to enable the completion of the licensing process.
The continued licensing of digital lenders forms part of CBK’s efforts to strengthen oversight of the sector, enhance consumer protection and promote responsible digital lending practices in Kenya.
