The Central Bank of Kenya (CBK) has announced the licensing of additional 32 Digital Credit Providers (DCPs), bringing the total number of licensed firms to 227.
In a statement on Tuesday, April 14, CBK confirmed the latest approvals and highlighted the legal framework guiding the process.
"The Central Bank of Kenya (CBK) announces the licensing of an additional 32 Digital Credit Providers (DCPs). This is pursuant to Section 59(2) of the Central Bank of Kenya Act (CBK Act). This brings the number of licensed DCPs to 227 following the licensing of 42 DCPs announced in December 2025," the statement read.
CBK noted that it has received more than 800 applications since March 2022 and has been working closely with applicants to ensure compliance with regulatory standards.
The regulator explained that its review process focuses on key areas to safeguard consumers and ensure only qualified entities are approved.
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"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 interests of customers are safeguarded. We acknowledge the efforts of the applicants and the support of other regulators and agencies in this process," the statement added.
CBK explained that Digital Credit Providers mainly offer loans through digital platforms, including USSD codes, with products ranging from education and development loans to short-term personal, asset-financing, and business loans.
According to the regulator, as of February 2026, licensed DCPs had issued 7.5 million loans worth Ksh133.5 billion.
CBK added that some applicants are yet to complete the process due to pending requirements and urged them to act promptly.
"Other applicants are at different stages in the process, largely awaiting the submission of requisite documentation. We urge these applicants to submit the pending documentation expeditiously to enable completion of the review of their applications," the statement further read.
This comes months after CBK unveiled draft regulations targeting credit guarantee businesses, following amendments to the CBK Act under the Business Laws (Amendment) Act, 2024.
In a notice on Thursday, September 25, CBK said the move is part of efforts to strengthen regulation and supervision in the sector.
The regulator said the proposed framework will enhance transparency and ensure that only credible entities are allowed to operate under the new legal regime.
"In this regard, licensed, very entity undertaking credit guarantee business will be required to be registered to carry on and will only be licensed once minimum governance, business conduct and prudential standards consistent with the strengthened prudential laws have been met.
"The draft regulations are intended to provide a transparent and predictable framework to ensure that only credible operators are licensed by CBK within these prescribed standards," the notice read.
According to CBK, the guidelines are designed to provide a clear framework for licensing, supervision, and governance of credit guarantee operators in the country.
"The draft Regulations cover key aspects including: licensing, governance, business management and other operational requirements for registration, licensing, governance, business risk management and other operational requirements for entities undertaking credit guarantee business," the notice added.
