The Central Bank of Kenya (CBK) has approved licences for 25 Digital Credit Providers (DCPs), bringing the total number of verified DCPs in the country to 256 as of July 2026.
In a statement issued on Tuesday, the CBK said it has received more than 800 applications since March 2022. It added that it has continued engaging applicants as it reviewed their submissions.
The CBK described DCPs as lenders that operate digitally through Unstructured Supplementary Service Data (USSD) codes and offer a range of loan products. These include educational loans, development loans, and short-term personal financing, among other options.
According to the CBK, by May 2026, licensed DCPs had disbursed more than 8 million loans worth about Ksh 150 billion to Kenyan consumers, positioning them as major players in the lending industry.
“The focus of the engagements with DCPs has been inter alia on business models, consumer protection and fitness and propriety of proposed shareholders, directors and management. This is to ensure adherence to the relevant laws and, importantly, that the interest of customers is safeguarded,” the statement said in part.
This regulatory push stems directly from public outcry over predatory lending. Specifically, CBK points to sky-high interest rates, abusive debt collection tactics, and the systematic misuse of personal data as the primary drivers behind the need for strict oversight.
To bring the rest of the market into compliance, CBK is urging remaining applicants to quickly submit their outstanding documents so regulators can wrap up the pending reviews.
Meanwhile, the CBK is urging Kenyans to blow the whistle on unlicensed mobile loan apps as regulators ramp up their crackdown on predatory digital lenders.
In a statement on Tuesday, July 14, the regulator advised consumers to report any unregulated Digital Credit Providers (DCPs) by emailing “[email protected]”. To help the public spot unauthorized operators, CBK published an updated directory listing every licensed digital lender in the country.
This comprehensive registry, updated on July 9, outlines approved companies alongside their physical and postal addresses, telephone numbers, emails, and licensing dates.
