CBK Approves 29 New Digital Lenders as Licensed Providers Hit 281

The Central Bank of Kenya (CBK) has licensed 29 additional digital credit providers, bringing the total number of regulated lenders to 281. The CBK stated that this process aims to ensure legal compliance and protect consumers. Since March 2022, over 900 applications have been received, with many still under review, and by August, licensed providers had issued nearly 9.6 million loans worth 165.1 billion shillings.