The Central Bank of Kenya (CBK) has licensed 29 additional digital credit providers, bringing the total number of regulated digital lenders in the country to 281 as authorities tighten oversight of the fast-growing digital lending industry.
In a press release on Wednesday, September 30, 2026, the regulator said the latest approvals were issued under Section 59(2) of the Central Bank of Kenya Act.
“The Central Bank of Kenya (CBK) announces the licensing of an additional 29 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 281 following the licensing of 25 DCPS announced in July 2026,” CBK said.
The new approvals follow the licensing of 25 digital credit providers in July 2026, as CBK continues reviewing applications from businesses seeking to offer digital loans to Kenyans.
The regulator disclosed that it has received more than 900 applications since March 2022 and has been working with applicants to review their business models, consumer protection measures, and the suitability of their proposed shareholders, directors, and management teams.
CBK said the review process seeks to ensure compliance with relevant laws and protect customers using digital lending services.
CBK Reveals Number of Loans Issued as it Licenses 29 Digital Lenders
The regulator also disclosed the scale of lending activity among licensed digital credit providers, revealing that the institutions had issued 9,596,509 loans valued at KSh165.1 billion as of August 2026.
Digital credit providers mainly lend through digital platforms, including Unstructured Supplementary Service Data (USSD) codes.
Their products include education loans, development loans, short-term personal loans, asset financing and business loans.
Also Read: Kenyan Banks Warn CBK Rules Could Tighten Lending
Why CBK Is Regulating Digital Lenders
CBK said the licensing and oversight process followed concerns raised by members of the public over the practices of unregulated digital credit providers.
The concerns included high lending costs, unethical debt collection practices and the misuse of personal information.
The regulator said its engagement with applicants focused on reviewing their business models, consumer protection measures, and the suitability of their shareholders, directors, and management teams.
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CBK Addresses Applicants Awaiting Licences
CBK said other digital credit providers seeking licenses were at different stages of the application process, with many awaiting the submission of the required documents.
The regulator urged applicants to submit outstanding documentation promptly to allow it the complete its review of their applications.
Members of the public can also report unregulated digital credit providers to CBK through the email address [email protected].
The regulator said it introduced licensing and oversight of digital credit providers following public concerns about predatory lending practices, particularly high costs, unethical debt collection, and the abuse of personal information.
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