CBK issues licences to 19 more digital credit firms

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NAIROBI, Kenya Mar 7...The Central Bank of Kenya (CBK) has announced licensing of additional 19 digital providers (DCPs) bringing the total number of DCPs to 51 following the licensing of 32 DCPs announced in march 2023

CBK has received 480 applications since march 2022 and has worked closely with the applicants in reviewing their applications , in addition CBK has engaged other regulators and agencies pertinent to the licensing process including the Office of Data Protection Commisioner  

"The focus of the engagements has be inter alia on business models, consumer protection, fitness and proprietor of proposed shareholders,  directors and management, this is to ensure adherance to the relevant laws and importantly that interest customers are safeguarded  " states a statement by CBK

Other applicants are at different stages in the process largely awaiting submission of requisite documentation 



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