CBK licensing unlocks funding nightmare for digital lenders
The licensing of digital credit providers by the Central Bank of Kenya (CBK) has opened the floodgates of new funding to the non-deposit taking entities.
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The licensing of digital credit providers by the Central Bank of Kenya (CBK) has opened the floodgates of new funding to the non-deposit taking entities.
The Central Bank of Kenya (CBK) has granted operating licences to 12 more digital lenders, bringing the total to 22. With 381 applications received since March 2022, the CBK also announced that it's evaluating more digital lenders. More in #TCDaily.
Among the newly licensed lenders are Tala, M-Kopa, Tenakata and Zanifu.
This brought the total number of approved DCPs to 22- following the licensing of 10 credit providers in September 2022.
The Central Bank of Kenya (CBK) has licensed 12 Digital Credit Providers (DCPs) bringing the number of licensed DCPs to 22