Digital mobile loan providers in Kenya must be licensed and regulated by the Central Bank of Kenya (CBK) before operating in the country. As of February 3, 2024, the CBK has licensed 33 digital loan apps to offer short-term loans to Kenyans seeking quick cash.
To earn CBK approval and a license, a loan app must demonstrate fair and responsible practices.
This includes obtaining explicit and informed borrower consent before accessing their credit report and personal information.
See also:
Additionally, the CBK regulates interest rates and fees to ensure they remain reasonable and within set limits.
Loan Apps in Kenya Approved by CBK
- Anjoy Credit Limited
- Asante FS East Africa Limited
- Ceres Tech Limited
- Colkos Enterprises Limited
- EDOMX Limited
- Extend Money Service Limited
- Fourth Generation Capital Limited
- Flash Credit Africa (Giando Africa Limited)
- Getcash Capital Limited
- Jijenge Credit Limited
- Jumo Kenya Limited
- Kweli Smart Solutions Limited
- Letshego Kenya Ltd.
- Little Pesa Limited
- M-Kopa Loan Kenya Limited
- MFS Technologies Limited
- Mwanzo Credit Limited
- Mycredit Limited
- MyWagepay Limited
- Natal Tech Company Limited
- Ngao Credit Limited
- Pezesha Africa Limited
- Rewot Ciro Limited
- Risine Credit Limited
- Sevi Innovation Limited
- Sokohela Limited
- Tenakata Enterprises Limited
- Umoja Fanisi Limited
- Zanifu Limited
- Zenka Digital Limited
The CBK has received over 400 applications from other digital credit providers and is diligently reviewing them to ensure they meet regulatory requirements.
Read Also:
0 Comments