Kenya’s popular mobile lenders have missed out in the list of ten lenders who have been approved by the Central Bank of Kenya.
According to the list of approved mobile lenders released by the CBK, Tala, Branch, Timiza, Okash and Zenka which are some of the most popular mobile lenders were not in the list of ten approved lenders.
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The approved lenders included Ceres Tech Limited, GetCash Capital Limited, Giando Africa Limited which trades as Flash Credit Africa, Jijenge Credit Limited.
Other are Kweli Smart Solutions Limited, Mwanzo Credit Limited, MyWagepay Limited, Rewot Ciro Limited, Sevi Innovation Limited, and Sokohela Limited.
In response to the list, Tala said that its application is still pending. The lender said that it had submitted its application to the CBK in good time and is working to have its approval.
“The CBK received 288 applications between 18th March 2022 and 17th September 2022, and we understand that each application is being reviewed in order of receipt,” said Tala.
“Tala submitted is application for the requisite licence in advance of the CBK’s deadline of 17th September 2022, and we are working with the CSBK with regards to our application.”
It added that in accordance with the provisions of the CK Amendment Act. 2021 and The CBK (Digital Credit Providers) Regulations, 2022, it shall continue to operate as a digital credit provider pending issuance of its licence by the CBK.
“We are committed to serving our customers in accordance with the applicable regulations and working with the CBC pending issuance of our licence,” said Tala in a statement.
