The Central Bank of Kenya (CBK) has licensed 10 additional digital credit lenders, bringing to 32 the total number of providers cleared to operate in the country.
CBK said in a statement on Monday that it had received 401 applications since March last year and that other applications are at different stages in the licensing process awaiting submission of requisite documentation.
The top bank had in January this year licensed 22 digital credit providers, among them Pezesha and Jumo.
The accreditation is part of regulations introduced last year to weed out rogue players in the industry as well as control how lenders use consumer data.
Google has also since started taking down apps from its Play Store in the country since the new policies went into effect in January.
MUST READ: Digital Lenders Association of Kenya (DLAK)
The lenders are now required to submit proof of license before being allowed on the app store.
Prior to the policies, many of the lenders gave quick, unsecured personal or business loans at unregulated interest rates.
They were also accused of sharing customer data with third parties and using debt-shaming tactics to recover their money.
Here is the full list of the 32 accredited Digital Credit Lenders:
1. Anjoy Credit Limited
2. Asante FS East Africa Limited
3. Ceres Tech Limited
4. Colkos Enterprises Limited
5. EDOMX Limited
6. Extend Money Service Limited
7. Fourth Generation Capital Limited
8. Getcash Capital Limited
9. Giando Africa Limited (Trading as Flash Credit Africa)
10. Inventure Mobile Limited (Trading as Tala)
11. Jijenge Credit Limited
12. Jumo Kenya Limited
13. Kweli Smart Solutions Limited
14. Letshego Kenya Ltd
15. Little Pesa Limited
16. MFS Technologies Limited
17. M-Kopa Loan Kenya Limited
18. Mwanzo Credit Limited
19. Mycredit Limited
20. MyWagepay Limited
21. Natal Tech Company Limited
22. Ngao Credit Limited
23. Okolea International Limited
24. Pezesha Africa Limited
25. Rewot Ciro Limited Postal
26. Risine Credit Limited
27. Sevi Innovation Limited
28. Sokohela Limited
29. Tenakata Enterprises Limited
30. Umoja Fanisi Limited
31. Zanifu Limited
32. Zenka Digital Limited