On September 19, the Central Bank of Kenya (CBK) released a list of authorized Digital Credit Providers (DCPs) who have submitted a licensing application.
Out of the 288 applications that had been submitted since March 2022, 10 mobile lenders had so far been authorized, according to a statement from CBK.
While acknowledging that other applications are at various stages of approval, CBK said that they will be included in due time.
The companies on the list include Ceres Tech Limited, Getcash Capital Limited, Giando Africa Limited (doing business as Flash Credit Africa), Jijenge Credit Limited, Kweli Smart Solutions Limited, and Mwanzo Credit Limited.
MyWagepay Limited, Rewot Ciro Limited, Sevi Innovation Limited, and Sokohela Limited are a few more.
Due to public concerns over uncontrolled DCPs, CBK observed that the regulation was essential.