K
Originally published by Kenyans
📰 Read Full Article
top
September 4, 2025
4h ago

CBK Releases Notice on Approved Digital Loan Providers

CBK Releases Notice on Approved Digital Loan Providers

The move came months after CBK posted a list of 42 new digital lenders...

✨ Key Highlights

The Central Bank of Kenya (CBK) has licensed an additional 27 Digital Credit Providers (DCPs), bringing the total number of licensed digital lenders in the country to 153. This move aims to enhance consumer protection and ethical lending practices in the financial technology sector.

  • 153 total licensed DCPs, following the licensing of 41 DCPs in June 2025.
  • The licensing process, under Section 59(2) of the CBK Act, addresses public concerns over predatory lending, high interest rates, harassment, and data misuse by previously unregulated lenders.
  • As of June 2025, licensed DCPs had issued 5.5 million loans, valued at approximately Ksh76.8 billion.

Continue Reading

Read the complete article from Kenyans

📰 Read Full Article