10 Companies Awarded Kenya’s First Digital Credit Provider Licenses
by Fintechnews Africa 22 September 2022The Central Bank of Kenya (CBK) announced that it has awarded licenses to 10 digital credit providers out of the 288 applicants who responded to its call for applications in March 2022.
The announcement stated that all digital credit companies who did not apply for a license must cease providing such services immediately following the 17 September 2022 application deadline.
The 10 licensed digital credit providers in Kenya are:
1. Jijenge Credit Limited
Provider of loan products such as logbook loans, asset financing, and import duty financing
2. Kweli Smart Solution
WhatsApp-based service for preapproved merchants and customers to buy and sell on credit
3. Mwanzo Credit Limited
Short term business and business training loans
4. MyWagepay Limited
B2B employee salary advance provider
5. Flash Credit Africa (Giando Africa Limited)
B2C salary advance loan provider
6. Sevi Innovation Limited
Enabling merchants to sell products on credit
7. Rewot Ciro Limited
Alcoholic drinks restocking and ordering platform with credit access
8. Sokohela Limited
Loans for MSMEs in the urban agricultural value chain
More information could not be found/confirmed on the remaining two licensees:
9. Ceres Tech Limited
10. Getcash Capital Limited
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