The Central Bank of Kenya (CBK) has approved 29 additional digital credit providers, raising the number of regulated digital lenders in the country to 281.
In a statement issued on Wednesday, September 30, CBK said the latest approvals follow the licensing of 25 digital credit providers in July.
The latest licences were issued under Section 59(2) of the Central Bank of Kenya Act, as the regulator continues its efforts to bring digital lending businesses under formal oversight.
“The Central Bank of Kenya (CBK) announces the licensing of an additional 29 Digital Credit Providers (DCPs). This is pursuant to Section 59(2) of the Central Bank of Kenya Act (CBK Act). This brings the number of licensed DCPs to 281 following the licensing of 25 DCPS announced in July 2026,” CBK said.
The regulator said it has received more than 900 applications from businesses seeking licences since March 2022, when the regulatory framework for digital credit providers took effect.
CBK said applications are being assessed on several fronts, including the applicants’ business models, consumer protection arrangements and the suitability of proposed shareholders, directors and management.
The review is intended to ensure that digital lenders comply with the law while strengthening safeguards for consumers who access credit through digital platforms.
“We urge these applicants to submit the pending documentation expeditiously to enable completion of the review of their applications,” CBK wrote.
Digital credit providers offer loans through electronic channels, including mobile applications and Unstructured Supplementary Service Data (USSD) platforms.
Their products range from short-term personal loans to education and development financing, asset-backed credit and loans for businesses.
The sector has expanded significantly since regulation was introduced. CBK data shows that by August 2026, licensed digital lenders had issued 9,596,509 loans worth a combined Sh165.1 billion.
The licensing programme was introduced amid concerns about practices associated with previously unregulated digital lenders, including expensive credit, aggressive debt recovery methods and the improper handling of borrowers’ personal information.
CBK has continued to encourage members of the public to report digital lenders operating outside the regulatory framework.
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