Editor's Review

In a statement, the company allayed fears that they had been locked out of the service.

Digital money lending company Tala has broken its silence after the CBK released a list of 10 licensed Digital Credit Providers who have met the threshold of offering services.

In a statement, the company allayed fears that they had been locked out of the service.

It has assured its customers that they will continue offering services saying the licensing process is still ongoing.

" As some of you may have noted from the CBK's press release dated September 19, 2022, the CBK received 288 applications between 18th March, 2022 and 17thSeptember 2022, and we understand that each application is being reviewed in order of receipt," Tala said in a press statement.

The statement added:

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CBK Governor Patrick Njoroge. PHOTO | COURTESY

"We would like to reassure our stakeholders, including our customers and the employees that Tala summitted its application for requisite license in advance of the CBK's deadline of 17th September 2022 and we are working with the CBK with regards to our application."

In accordance with the provision of the CBK amendment act 2022, and the CBK (Digital Credit Providers regulations) 2022, the company stated that they shall continue to operate as a digital credit provider pending issuance of our license by the CBK.

"We further understand  that the CBK will continue to share details of the licensed DCP's every week until the process is complete," they stated.

In the statement published on Monday, September 19, CBK noted that ten mobile lenders had so far been approved out of the 288 applications that had been filed since March 2022.

"So far, 10 applicants have now been licensed as DCPs, pursuant to the CBK act and the regulations. Other applicants are at different stages in this 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," part of the statement by CBK read. 

The 10 are:

1. Ceres Tech Limited

2. Getcash Capital Limited

3. Giando Africa Limited (Trading as Flash Credit Africa)

4. Jijenge Credit Limited

5. Kweli Smart Solutions Limited

6. Mwanzo Credit Limited.

7. MyWagepay Limited

8. Rewot Ciro Limited

9. Sevi Innovation Limited

10. Sokohela Limited