Loan apps are a big thing in Kenya, and for good reason: they offer effortless credit to cash-strapped customers with no collateral, a move that has since proved very popular in the country. The fact that customers can access this cash in a matter of seconds on their phones via M-PESA is also the primary reason why digital lenders have been making a killing.
As of the end of January 2023, only 22 loan apps had been approved to run their operations. The CBK says it had received over 380 applications and is still in the process of assessing them.
Now, the regulator has added 10 more loan apps to the approved list, meaning there are 32 licensed digital lenders in the country.
They are:
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
24. Pezesha Africa Limited
25. Rewot Ciro Limited
26. Risine Credit Limited
27. Sevi Innovation Limited
28. Sokohela Limited
29. Tenakata Enterprises Limited
30. Umoja Fanisi Limited
31. Zanifu Limited
