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The overall number of mobile lenders licensed to conduct business in Kenya stands at 32 as of today 27th April 2023. This is after the Central Bank of Kenya licensed 10 more digital lenders. Initially, only 22 Mobile Lenders had been licensed.
In a statement released, CBK stated that since March of last year, it had received 401 applications. Additional applications are pending submission of necessary papers at various stages of the licensing procedure.
The CBK had licensed 22 digital credit companies as of January this year. The accreditation is a component of rules that were put in place last year to weed out bad actors in the sector and regulate how lenders utilize customer data.
Read: Why BRICS Want To Create A New Currency 2023
Since the new restrictions took effect in January, Google began removing apps from its Play Store in Kenya and the lenders are now required to submit proof of license before being allowed on the app store.
Many lenders provided rapid, unsecured personal or company loans at unregulated interest rates prior to the policies.
They were also charged with disclosing consumer information to unaffiliated parties and pursuing debt collection through defamation suits.
Read: CBK announces that only 10 digital loan companies have been licensed
Here is the full list of the 32 accredited Mobile lenders:
1. Anjoy Credit Limited
2. Asante FS East Africa Limited
3. Ceres Tech Limited
4. Colkos Enterprises Limited
5. EDOMX Limited
6. Extend Money Service Limited
7. Fourth Generation Capital Limited
8. Getcash Capital Limited
9. Giando Africa Limited (Trading as Flash Credit Africa)
10. Inventure Mobile Limited (Trading as Tala)
11. Jijenge Credit Limited
12. Jumo Kenya Limited
13. Kweli Smart Solutions Limited
14. Letshego Kenya Ltd
15. Little Pesa Limited
16. MFS Technologies Limited
17. M-Kopa Loan Kenya Limited
18. Mwanzo Credit Limited
19. Mycredit Limited
20. MyWagepay Limited
21. Natal Tech Company Limited
22. Ngao Credit Limited
23. Okolea International Limited
24. Pezesha Africa Limited
25. Rewot Ciro Limited Postal
26. Risine Credit Limited
27. Sevi Innovation Limited
28. Sokohela Limited
29. Tenakata Enterprises Limited
30. Umoja Fanisi Limited
31. Zanifu Limited
32. Zenka Digital Limited
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