Loans -Government has approved a total of ten mobile money lenders in the country; with the rest having failed to meet the requisites.
Central Bank of Kenya CBK today Monday September 19 listed only 10 out of 288 Digital Credit Providers DCP who had made their applications for the approval to operate in the country.
Releasing the statement on this, CBK noted that other applicants would be considered as time goes by since they are now at different stages of their approval.
“CBK has received 288 applications since March 2022 and has worked closely with the applicants over the last six months in reviewing their applications.
“Additionally, CBK has engaged other regulators and agencies pertinent to the licensing process, including the Office of the Data Protection Commissioner. We acknowledge the efforts of the applicants and the support of other regulators and agencies in this process,” CBK statement went on.
Ceres Tech Limited, Getcash Capital Limited, Giando Africa Limited (Trading as Flash Credit Africa), Jijenge Credit Limited, Kweli Smart Solutions Limited, and Mwanzo Credit Limited were approved.
Others include MyWagepay Limited, Rewot Ciro Limited, Sevi Innovation Limited, and Sokohela Limited.
The CBK, therefore, urged those which had not been cleared to expedite submission of pending documents so that they can get an official node to operate in the country.
The regulator, however, issued a warning to the unregulated DCPs who did not apply for licensing to stop carrying on their trade in the country because they risk total ban.
