CBK Kenya has released a list of 22 digital credit providers in 2023. By March 2022 CBK had received 381 applications from companies interested to become digital lenders in Kenya.
Digital Credit Lenders in Kenya are also commonly known as mobile loan apps. They provide unsecured online loans to Kenyans via Mpesa or Airtel Money.
Most mobile loans have an average repayment period of one month. If you default on repaying your loan, they submit your name to credit reference bureaus for listing as a defaulter. The CRB list is commonly used in Kenya by financial institutions to determine whether you qualify for a loan.
List of Licensed Digital Credit Lenders in 2023
Below is a list of licensed digital credit lenders in Kenya
- Ceres Tech
- Getcash Capital
- Giando Africa or Flash Credit Africa
- Jijenge Credit
- Kweli Smart Solutions
- Inventure Mobile as Tala
- Jumo Kenya
- Letshego Kenya
- MFS Technologies
- M-Kopa Loan Kenya
- Mwanzo Credit L
- Mycredit
- MyWagepay
- Natal Tech Company
- Ngao Credit
- Pezesha Africa
- Rewot Ciro
- Sevi Innovation
- Sokohela
- Tenakata Enterprises
- Umoja Fanisi
- Zanifu
All the companies listed above are limited.
The review process considered consumer data protection, debt collection process, and company management. The pending applicants have been asked to submit their required documents for review and approval.
Source: Central Bank of Kenya Directory of Digital Credit Provided that was published on January 30, 2023
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