The Central Bank of Kenya (CBK) has licensed 27 additional Digital Credit Providers (DCPs), bringing the total number of licensed firms in the country to 153.

The newly licensed companies include Mwananchi Credit Limited, Aspire Lending Ltd, Autochek Limited, Bossrich Credit Limited, Brisk Credit Limited, Chapeo Capital Limited, Colkos Enterprises Limited, Dime Credit Limited, Elevate Credit Limited, and Fabilo Credit Ltd, among others.

CBK began licensing digital lenders in March 2022 following widespread public complaints about predatory practices, including exorbitant interest rates, unethical debt collection methods, and misuse of personal data.

“CBK has received more than 700 applications since March 2022 and has worked closely with the applicants in reviewing their applications,” the regulator said in a statement. “The focus of the engagements with DCPs has been on business models, consumer protection, and the fitness and propriety of proposed shareholders, directors, and management. This is to ensure adherence to the law and, importantly, that the interests of customers are safeguarded.”

CBK noted that as of June 2025, licensed DCPs had disbursed 5.5 million loans valued at Sh76.8 billion. Most lenders operate through digital platforms such as mobile applications and USSD codes, offering products ranging from education and personal loans to business loans and asset financing.

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The regulator urged pending applicants to submit outstanding documentation to speed up the review process and invited the public to report unregulated lenders via dcps@centralbank.go.ke.

“The licensing and oversight of DCPs was precipitated by concerns raised by the public about unregulated providers, especially their high cost, unethical debt collection practices, and abuse of personal information,” CBK added.