Tag: Digital Lenders

Instant Mobile loans apps in Kenya

Understanding Legit Digital Loans Platforms in Kenya

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Digital Loans are popular in Kenya and this has led to increase in lending companies. On March 21, 2022, Central Bank of Kenya(CBK) announced...
Mpesa associated loan apps dominate digital lending in Kenya

Mobile Loans in Kenya: Safaricom and Partner Products Take Giant Share

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Digital lending in Kenya has grown over the years. Digital lenders offer loans to Kenyans primarily via mobile apps and USSD codes. The quick loans...
Loan Apps Kenya

ODPC Fines Loan App KES 5 million for Personal Data Abuses

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The Office of the Data Protection Commissioner (ODPC) has issued two penalty notices against WhitePath Company Limited which offers online loan services, and Regus...
Loan Apps Kenya

List of 32 Loan Apps Approved to Operate in Kenya

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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...
Loan Apps Kenya

Zenka, 9 Others Receive CBK License to Offer Digital Loans in Kenya

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Digital loan apps have been undergoing a lot of scrutiny from regulators such as the Central Bank of Kenya ever since they started abusing...

Nigeria’s Digital Lender Umba Makes Comeback to Kenya with New Product Offering

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Online lender Umba, which refers to itself as a digital bank built for Africa, has revealed plans to expand its service offerings in the...
Loan Apps Kenya

List of 22 Licensed Loan Apps in Kenya, Including Tala, M-KOPA

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We have since discussed the state of digital lenders in Kenya, and how the CBK, among other regulators, have been trying to bring some...

State of Digital Lending Apps in Kenya in 2023

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Digital lenders have been in business for an extended period, but their operations have since been halted by the Central Bank of Kenya and...

CBK Gives Digital Borrowers Six Months to Repair Their Credit Standing

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At the start of the new Kenyan administration, President Ruto announced that he would see that people who have been listed by the CRB...
Loan Apps Kenya

CBK Freezes All Online Lenders Without Operating Licenses

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Two things have happened today: the CBK has announced that only 10 digital lenders have been licensed to run their operations in Kenya. Secondly,...
Loan Apps Kenya

CBK Approves Only 10 Digital Lenders, Here Are Their Names

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Back in 2021, CBK Amendment Bill, 2021 was signed into law by the former President of Kenya Uhuru Kenyatta. This meant that online lenders would...

Digital Lenders Finally Gagged from Threatening Customers in New CBK Regulations

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As we had reported before, the CBK Amendment Bill, 2021 has since been signed into law by the President of Kenya. This means that...
Loan Apps Kenya

President Kenyatta Signs Into Law the CBK Amendment Bill That Finally Regulates Online Lenders

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President Kenyatta has signed into law the Central Bank Amendment Bill, 2021. The development means that the CBK has the power to tame various parts...
Loan Apps Kenya

CBK Directive on CRB Listing Has Lost 4 Million Customers for Online Lenders

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Digital lenders have offered their services to Kenyans for a long time without any kind of regulation from the CBK or key parties such...
Loan Apps Kenya

Digital Lenders Face Prosecution and Hefty Fines For Debt-Shaming In Nigeria

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The whip is cracking, and it is doing so loudly across the African continent on rogue digital lenders, out of increased concerns on an...
central bank of kenya

Debt Shaming Digital Lenders Will Have Their Licenses Revoked By Central Bank

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Digital lenders will have to operate under the same laws that bind the business of commercial banks, once all the changes in the Central...
Loan Apps Kenya

Why Okash and Debt Of Shame Are Trending on Twitter

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Yesterday, Citizen TV aired a news item about online loan apps or digitized loan sharks that have made the life of many Kenyans very...

CBK Bill Highlights Some Digital Lenders Could Be Laundering Money

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We are hoping that soon, predatory digital lending apps will be a thing of the past if the proposed CBK (Amendment) Bill, 2021 will...
cbk

Central Bank of Kenya Cracks Whip on Unregulated Digital Lenders By Denying Them CRB Access

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Today, the Central Bank of Kenya has announced that they have terminated access to the credit reference bureaus (CRBs) to rogue mobile money lenders. "With...
Mobile Lenders

CBK to Initiate Tougher Rules On a Mostly Unregulated Digital Lending Platform

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A couple of days ago, I was having a chat with a friend about the number of online lenders that have come up after...
Mobile Lenders

Kenya’s Finance Ministry to Introduce Regulative Framework for Digital Lenders

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The success of mobile lending apps is, admittedly, attributed to the foundation laid by M-PESA services. It is, perhaps, the primary factor that such...

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