List of 32 Licensed Digital Mobile Loans Lenders in Kenya by CBK IN 2023

To foster a more responsible and regulated digital lending environment, the Central Bank of Kenya (CBK) has recently granted licenses to 10 digital credit lenders, expanding the total number of authorized digital credit providers in Kenya to 32. These developments have come as a response to mounting concerns over the conduct of some lenders, who were often accused of employing unethical practices in the industry. In this article, we will explore the implications of this licensing process, introduce you to the newly accredited lenders, and shed light on the regulatory changes that have occurred.

The Evolution of Digital Lending in Kenya

The journey to regulate and supervise digital lending in Kenya has been steady. In line with Section 59(2) of the Central Bank of Kenya Act (CBK Act), the CBK initiated the oversight of the digital lending space last year, setting up a transparent licensing procedure to bring stability and accountability to the digital lending landscape in Kenya.

Initially, the CBK issued licenses to 10 digital lenders out of 288 applications within a 3-day ultimatum. Subsequently, in January, an additional 12 lenders received their licenses. This recent announcement by CBK marks the latest milestone in the ongoing transformation of the digital lending industry in Kenya, as it brings the total number of licensed credit providers to 32 amidst a backdrop of over 400 pending applications.

The List of Licensed Digital Lenders

Here is the comprehensive list of the 32 accredited digital lenders:

1. Anjoy Credit Limited

   • Postal Address: P.O. BOX 14100 - 00100.
   • Telephone: +254769984360
   • Email: Info@anjoycredit.com
   • Physical Address: Transnational House 1st Floor, Mama Ngina Street.

2. Asante FS East Africa Limited

   • Postal Address: P.O. Box 13796 - 00800, Nairobi
   • Telephone: +254111017500
   • Email: info@asantefinancegroup.com
   • Physical Address: Delta Corner Towers, 3rd Floor, Waiyaki Way, Westlands

3. Ceres Tech Limited

   • Postal Address: P.O. Box 50047 – 00100, GPO, Nairobi
   • Telephone: +254702038679
   • Email: muthongeken@gmail.com
   • Physical Address: Uncle Two Apartment, Fedha Estate, Church Road

4. Colkos Enterprises Limited

   • Postal Address: P.O. Box 11203 – 00100, GPO, Nairobi
   • Telephone: +254722253228
   • Email: colkos2019@gmail.com
   • Physical Address: Monomatapa Court, House No. 2, Oledume Road

5. EDOMX Limited

   • Postal Address: P.O. Box 797-00606, Nairobi
   • Telephone: +254701220220
   • Email: info@edomx.com
   • Physical Address: The Address, 16th Floor, Muthangari Drive, Westlands

6. Extend Money Service Limited

   • Postal Address: P.O. Box 21735 – 00100, Nairobi
   • Telephone: +254722528349
   • Email: skamau@extend.co.ke
   • Physical Address: 4th Floor, Suite 6G, Vision Plaza, Mombasa Road, Nairobi

7. Fourth Generation Capital Limited

   • Postal Address: P.O. Box 4916-00100, Nairobi
   • Telephone: +254113862239
   • Email: legal@4g-capital.com
   • Physical Address: Africa Reit Lane, Africa Reit House, Nairobi

8. Getcash Capital Limited

   • Postal Address: P.O. Box 15682-00503, Mbagathi, Nairobi
   • Telephone: +254721264009
   • Email: fwtuse@gmail.com
   • Physical Address: Devcon House, Lunga Lunga

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

   • Postal Address: P.O. Box 0706934558 - 00100 Sarit Centre
   • Telephone: +254713948254
   • Email: hello@flashcreditafrica.com
   • Physical Address: Krishna Center, Woodvale Groove

10. Inventure Mobile Limited (Trading as Tala)

    • Postal Address: P.O. Box 35523 – 00100, Nairobi
    • Telephone: +254113810895
    • Email: legal-ke@tala.co
    • Physical Address: 7th Floor Block 1, Chiromo Road Building, Eden Square Complex, Nairobi

11. Jijenge Credit Limited

    • Postal Address: P.O. Box 9578 – 00200, Nairobi
    • Telephone: +254722843770
    • Email: petermacharia@jijengecredit.com
    • Physical Address: Town House, Kaunda Street

12. Jumo Kenya Limited

    • Postal Address: P.O. Box 4916 – 00100, Nairobi
    • Telephone: +254787777771
    • Email: contact@jumo.world
    • Physical Address: ICEA Lion Centre, Riverside Park, 5th Floor, West Wing, Chiromo Road, Westlands, Nairobi

13. Kweli Smart Solutions Limited

    • Postal Address: P.O. Box 53431-00200, Nairobi
    • Telephone: +254722519148
    • Email: sema@ksmart.tech
    • Physical Address: 6th Floor, Senteu Plaza (ihub), Galana Road

14. Letshego Kenya Ltd

    • Postal Address: P.O. Box 52926 – 00200, Nairobi
    • Telephone: +254730687000
    • Email: Kenya@letshego.com
    • Physical Address: 316 Chambers, 2nd Ngong Avenue, Upper Hill, Nairobi

15. Little Pesa Limited

    • Postal Address: P.O Box 39886 - 00623
    • Telephone: +254746510778 / +254710490126 / +254746510781
    • Email: Info@littlepesa.com
    • Physical Address: Reliable Towers, Mogotio Road, Westlands.

16. MFS Technologies Limited

    • Postal Address: P.O. Box 43250 – 00100, Nairobi
    • Telephone: +254722730336
    • Email: info@mfs.co.ke
    • Physical Address: Capital West Business Centre, Corner of Lantana and Raphta Road, Nairobi

17. M-Kopa Loan Kenya Limited

    • Postal Address: P.O. Box 51866 – 00100, Nairobi
    • Telephone: +254707333222
    • Email: legal@m-kopa.com
    • Physical Address: Riverside Paddocks, M-Kopa House, Nairobi

18. Mwanzo Credit Limited

    • Postal Address: P.O. Box 33 – 00100, Nairobi
    • Telephone: +254729670100
    • Email: infomwanzocreditltd@gmail.com
    • Physical Address: Newton House, Deliverance Road

19. Mycredit Limited

    • Postal Address: P.O. Box 21798 – 00100, Nairobi
    • Telephone: +254711349805
    • Email: info@mycredit.co.ke
    • Physical Address: ABSA Towers, Loita Street, Nairobi

20. MyWagepay Limited

    • Postal Address: P.O. Box 43844-00200, Nairobi
    • Telephone: +254727062060
    • Email: bwangai2015@gmail.com
    • Physical Address: View Estate, 5th Floor, Room 503C, Mirema Road

21. Natal Tech Company Limited

    • Postal Address: P.O. Box 306 – 00241, Kitengela
    • Telephone: +254727279380 / +254(02)114612792
    • Email: nataltech2022@gmail.com
    • Physical Address: Jarju House, Namanga Road, Kitengela

22. Ngao Credit Limited

    • Postal Address: P.O. Box 60776 – 00200, Nairobi
    • Telephone: +254709650000
    • Email: info@ngaocredit.com
    • Physical Address: 4th Floor, Morning Side Office Park, Ngong Rd, Nairobi

23. Okolea International Limited

    • Postal Address: P.O Box 75474 – 00200
    • Telephone: +254792900958
    • Email: wilson@okolea-international.com
    • Physical Address: 1st Floor, Venus Complex, Office No.4111, Nairobi

24. Pezesha Africa Limited

    • Postal Address: P.O. Box 22986 – 00505, Nairobi
    • Telephone: +254755768547
    • Email: hello@pezesha.com
    • Physical Address: Rosami Court, Muringa Road, Office No. 2, Nairobi

25. Rewot Ciro Limited

    • Postal Address: P.O. Box 15073 - 00400 Tom Mboya Street, Nairobi
    • Telephone: +254715464554
    • Email: rewotafrica@gmail.com
    • Physical Address: Keekorok Builiding, Keekorok Road

26. Risine Credit Limited

    • Postal Address: P.O. Box 25347 – 00603, GPO, Nairobi
    • Telephone: +254113231996
    • Email: noelokoth44@gmail.com
    • Physical Address: Ikigai Office Ninety JGO, James Gichuru Road

27. Sevi Innovation Limited

    • Postal Address: P.O. Box 41987 – 00100, Nairobi
    • Telephone: +254709473003 / +254729062298
    • Email: pmwaura@mwc.legal
    • Physical Address: Luthers Plaza, Nyerere Road

28. Sokohela Limited

    • Postal Address: P.O. Box 34-00502, Nairobi
    • Telephone: +254728915511
    • Email: nonyango7@gmail.com
    • Physical Address: Capri Plaza, Naivasha Road, Kawangware

29. Tenakata Enterprises Limited

    • Postal Address: P.O. Box 21605 – 00505, Nairobi
    • Telephone: +254728888863
    • Email: info@tenakata.com
    • Physical Address: 8th Floor, Pineplaza, Kaburu Drive, Kilimani, Nairobi

30. Umoja Fanisi Limited

    • Postal Address: P.O. Box 44165 – 00100, Nairobi
    • Telephone: +254723623323
    • Email: info@umojafanisilimited.com
    • Physical Address: Fanisi House, Mbaazi Road, Lavington, Nairobi

31. Zanifu Limited

    • Postal Address: P.O. Box 30624 – 00200, Nairobi
    • Telephone: +254711558453
    • Email: steve@zanifu.com
    • Physical Address: Kenrail Towers, 4th Floor, Mkungu Close, Nairobi

32. Zenka Digital Limited

    • Postal Address: P.O. Box 29107, 00100 - Nairobi
    • Telephone: +254112480254 / +254 20 7650878
    • Email: info@zenka.co.ke
    • Physical Address: Mirage Tower, Tower 2, 12th Floor, Waiyaki Way, Westlands, Nairobi

A Glimpse at the Accredited Lenders

These accredited digital lenders include both established names and promising newcomers to the Kenyan lending scene. Among the well-known names on this list are Tala, MFS Technologies Limited, M-Kopa Loan, and Jumo. These lenders have undergone a rigorous vetting process and have proven their commitment to adhering to the new regulatory guidelines.

It's important to note that several other applicants are currently in various stages of the licensing process, awaiting the submission of the necessary documentation. CBK has encouraged these applicants to expedite the submission of these documents to facilitate a swift review of their applications.

READ ALSO: 70 Loan Apps in Kenya Without CRB Check in 2023(TOP RANKED)

Conclusion

The licensing of digital credit providers by the Central Bank of Kenya represents a significant milestone in the evolution of the country's digital lending landscape. These measures are designed to protect the interests of borrowers, enhance privacy, and eradicate unethical lending practices that have plagued the industry in the past. With Google Play Store also playing an active role in ensuring that only licensed apps are available to users, borrowers can now have more confidence in the safety and credibility of digital lending in Kenya.

For borrowers, it is crucial to stay informed about the licensed lenders and exercise caution when engaging with digital lending platforms. The newly accredited lenders are committed to responsible lending practices, ensuring borrowers receive fair and transparent financial services.

Frequently Asked Questions

1. Why is the Central Bank of Kenya licensing digital credit lenders?

• The CBK licenses digital credit lenders to regulate the industry, protect borrowers, and eliminate unethical lending practices.

2. How many digital credit lenders are now licensed in Kenya?

• As of the latest announcement, there are 32 licensed digital credit lenders in Kenya.

3. What benefits do borrowers receive from this licensing process?

• Borrowers can expect increased confidentiality, data privacy, and assurance of dealing with regulated and accountable lenders.

4. What role has Google Play Store played in regulating digital lending in Kenya?

• Google Play Store has implemented policies to ensure that only licensed loan apps are available for download, enhancing user safety.

5. What should borrowers look for when choosing a digital lending app?

• Borrowers should only engage with apps that the Central Bank of Kenya licenses to ensure the safety of their data and ethical lending practices.