The Central Bank of Kenya (CBK) has granted licenses to 19 additional companies, bringing the total number of approved digital credit service providers to 51. This move is anticipated to heighten competition in the digital lending sector. The registration, conducted in collaboration with regulatory authorities, addresses public concerns over high interest rates and the potential misuse of user data by digital lenders. CBK emphasizes its commitment to upholding relevant laws and safeguarding customer interests, with a comprehensive evaluation of business models, consumer protection measures, and the suitability of shareholders and management teams.

This marks the fourth round of licensing since CBK initiated approvals for Digital Credit Providers (DCPs) in October 2022, following a six-month mandatory registration period. Among the newly licensed firms are Autocheck, Azura, Chapeo, Chime, Creditarea, Decimal, Dexintec, Factorhouse, Fezotech, and Fortune, along with others such as Lipa Later, Lobelitec, Maralal Ledger, Marble Capital, MKM Capital, Pi Capital, Senti Capital, Ubapesa, and Zillions Credit.