Kenya Approves 25 New Digital Lenders as Licensed DCPs Reach 252
According to CBK, licensed digital lenders had disbursed more than 8.37 million loans worth KSh150.56 billion as of May 2026, highlighting the growing role of digital credit in expanding access to financial services across Kenya.
The Central Bank of Kenya (CBK) has licensed an additional 25 Digital Credit Providers (DCPs), bringing the total number of licensed firms in the country to 252. The latest approvals follow the licensing of 32 DCPs in April 2026 and were issued under Section 59(2) of the Central Bank of Kenya Act.
Since opening the licensing process in March 2022, the central bank has received more than 800 applications from digital lenders. CBK said it has worked closely with applicants to assess their business models, consumer protection measures, and the fitness and propriety of proposed shareholders, directors and management teams to ensure compliance with regulatory requirements and safeguard customers’ interests.
The regulator noted that licensed DCPs primarily provide loans through digital channels, including mobile applications and Unstructured Supplementary Service Data (USSD) services. Their products cover a range of financing needs, including education loans, development loans, short-term personal loans, asset financing and business loans.
According to CBK, licensed digital lenders had disbursed more than 8.37 million loans worth KSh150.56 billion as of May 2026, highlighting the growing role of digital credit in expanding access to financial services across Kenya.
The central bank said applications from other prospective digital lenders remain under review, with many awaiting the submission of outstanding documentation. It urged applicants to provide the required information promptly to facilitate the completion of the licensing process.
CBK also encouraged members of the public to report unregulated digital credit providers through its dedicated reporting channel. The regulator said the licensing and supervision framework was introduced in response to widespread concerns over predatory lending practices by unregulated operators, including excessive borrowing costs, unethical debt collection methods and the misuse of customers’ personal data.
