The Central Bank of Kenya (CBK) has licensed 27 additional Digital Credit Providers (DCPs), bringing the total number of approved digital lenders in the country to 153.
In a statement released on Thursday, CBK said the latest approvals come three months after 41 DCPs were licensed in June 2025.
Since initiating the licensing process in March 2022, the regulator has received over 700 applications. CBK has been actively engaging applicants to assess key areas such as business models, consumer protection policies, and the integrity of proposed shareholders, directors, and management teams.
“As of June 2025, licensed DCPs had issued 5.5 million loans amounting to Ksh 76.8 billion,” the regulator noted. CBK also indicated that several applications remain under review, with many pending the submission of required documentation.
The central bank emphasized that the ongoing engagements are aimed at ensuring compliance with regulatory standards and protecting consumers. This follows growing concerns over predatory lending practices, unethical debt recovery methods, and misuse of personal data by previously unregulated digital lenders.
CBK highlighted that most DCPs operate via digital channels, primarily using USSD platforms. The loan products offered range from education and personal loans to business loans, asset financing, and development loans.
A full list of the newly licensed DCPs has been published on the CBK website. Meanwhile, other applicants continue to move through various stages of the approval process.