CBK issues license to 12 new digital lenders; List of the lenders
The central bank of Kenya, CBK issues license to 12 new digital lenders making the total to be 34.
According to the CBK Governor Patrick Njoroge, licensing is in line with Section 59(2) of the Central Bank of Kenya Act (CBK Act)
The gazette notice read,”It is notified for information of the general public that in the exercise of the powers conferred by Regulation 5 (1) of the Central Bank of Kenya (Digital Credit Providers) Regulations, 2022, the Central Bank of Kenya has licensed the following entities as Digital CreditProviders.”
The new digital lenders include; Inventure Mobile Limited (Tala), Jumo Kenya Limited, Letshego Kenya Limited, MFS Technologies Limited, M-Kopa Money Kenya Limited, Mycredit Limited, Natal Tech Company Limited, Ngao Credit Limited, Pezesha Africa Limited, Tenataka Enterprises Limited, Umoja Fanisi Limited and Zanifu Limited.
This comes after Kenyans raised concerns of digital lenders taking advantage of their state, to impose heavy interests, high repayment costs, unethical debt collection practices, and the abuse of personal information.
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