In a continued effort to regulate Kenya’s digital lending space and protect consumers, the Central Bank of Kenya (CBK) has officially approved 41 new digital lenders and online loan apps as of July 2025. This brings the total number of licensed Digital Credit Providers (DCPs) to 126, marking a significant step toward formalizing the digital lending ecosystem.
With the proliferation of mobile loan apps in Kenya, many consumers have fallen victim to predatory lending, data privacy breaches, and harassment. CBK’s licensing process aims to ensure that only genuine and compliant lenders operate in the country.
✅ Why CBK Licensing Matters
CBK’s approval is the gold standard in identifying legitimate digital lenders. A licensed lender:
- Adheres to data privacy laws
- Offers fair loan terms and interest rates
- Is accountable to consumer protection regulations
- Cannot harass or shame defaulters
- Can be legally prosecuted if they violate your rights
🆕 List of the 41 New CBK-Approved Digital Lenders (2025)
Below is the list of the latest 41 loan apps and online lenders officially licensed by the CBK as of July 2025, along with known or associated loan apps.
| No. | Licensed Entity | Known Loan App (If Any) |
|---|---|---|
| 1 | Fantom Capital Ltd | — |
| 2 | Fabilo Credit Ltd | — |
| 3 | East Africa Futures Company | — |
| 4 | Brac Kenya Company Ltd | — |
| 5 | Bimas Kenya Ltd | — |
| 6 | AVL Capital Ltd | — |
| 7 | Avenews Ke Ltd | — |
| 8 | Aventus Technology Ltd | Lendplus |
| 9 | Asap Credit Ltd | — |
| 10 | Android Credit Ltd | — |
| 11 | Absolute Credit Kenya Ltd | — |
| 12 | Finberry Capital Ltd | Berry loan app |
| 13 | Finboom Credit Kenya Ltd | — |
| 14 | Frictionless Enterprises Ltd | — |
| 15 | Girls First Kenya Ltd | — |
| 16 | Granary Capital Ltd | — |
| 17 | Helium Credit Ltd | — |
| 18 | Kifedha Ltd | — |
| 19 | Kikwetu Credit Ltd | — |
| 20 | Leja Ltd | — |
| 21 | Loan Plus Ltd | — |
| 22 | Moneza Ltd | — |
| 23 | Modest Credit Ltd | — |
| 24 | Mkulima Pay Ltd | — |
| 25 | Milhan Access Capital Ltd | — |
| 26 | Maxton Enterprises Ltd | — |
| 27 | Longitude Capital Ltd | — |
| 28 | Zamaridi Capital Ltd | Wooden Loan App |
| 29 | Watu Credit Ltd | Watu Loan App |
| 30 | Wabema Credit Ltd | — |
| 31 | Unifi Credit Ltd | Unifi Loan App |
| 32 | Spectrum Capital Ltd | — |
| 33 | Spread Capital Ltd | — |
| 34 | Steadfast Credit Ltd | — |
| 35 | Tentacorp Holdings Ltd | — |
| 36 | Tinycest Credit Kenya Ltd | — |
| 37 | Nawiri Africa Sprouts Ltd | Fast Credit |
| 38 | Newark Frontier Ltd | — |
| 39 | Numida Technologies | Numida Loan App |
| 40 | Simbageld Ltd | — |
| 41 | Sipranda Capital Ltd | — |
🏛️ Summary of Previously Approved CBK Licensed Loan Apps
Before this new list, CBK had already approved 85 digital credit providers (as of late 2024). Notable previously approved lenders include:
- Tala Kenya – Inventure Mobile Ltd
- Branch – Branch International
- Mogo – Mogo Kenya
- Zenka – Zenka Finance
- Pezesha Africa Ltd
- Jumo Kenya
- M-Kopa Loan
- Okolea International Ltd
These were among the first batch to meet the new regulatory threshold set by CBK under the Digital Credit Providers Regulations, 2022.
🌟 Key Features of the New CBK-Approved Loan Apps
- No collateral required
- Digital KYC and credit scoring
- Fast approval & M-PESA disbursement
- Loan minimum Kes 1000
- Repayment periods from 7 days to 12 months
- APR ranging from 8% to 36% (regulated)
✅ Pros of Using CBK-Licensed Loan Apps
| Advantage | Description |
|---|---|
| ✔️ Legally Compliant | Backed by CBK regulation and oversight |
| ✔️ Data Privacy | Your information is protected by law |
| ✔️ Transparent Fees | All charges must be disclosed upfront |
| ✔️ Legal Recourse | You can file a complaint with CBK |
| ✔️ No Harassment | Debt recovery is professional and ethical |
❌ Cons of Loan Apps (Even If Licensed)
| Disadvantage | Explanation |
|---|---|
| ❗ High Interest for Short Loans | Some loans charge high monthly interest |
| ❗ Limited Amounts | First-time borrowers often get small limits |
| ❗ Strict Repayment | Late fees can apply if you default |
| ❗ Not Ideal for Long-Term Borrowing | Better for emergencies than business expansion |
🔍 How to Identify FAKE or Unlicensed Loan Apps
Despite CBK’s efforts, many fake and predatory apps still operate illegally. Here’s how to spot them:
| Red Flag | Explanation |
|---|---|
| ❌ Not on CBK’s official list | Cross-check at: https://www.centralbank.go.ke |
| ❌ Forces Access to Contacts/SMS | CBK prohibits misuse of personal data |
| ❌ Threats or Public Shaming | Illegal per the Data Protection Act |
| ❌ Instant Approval With No Terms | Lack of transparency is a scam signal |
| ❌ No Company Info or Support | Legit apps must display contact info |
| ❌ Charges Upfront Fees | No loan app should ask for fees before disbursement |
If in doubt, verify the lender’s status on CBK’s official website or ask CBK directly.
📥 How to Apply for a Loan from a CBK-Approved App
Most of these apps follow a similar application process:
- Download from Google Play Store or official website.
- Register using your ID and M-PESA number.
- Provide permissions (some data may be required for credit scoring).
- Apply for the loan, and await approval.
- Loan disbursed to your M-PESA.
- Repay on time via app or M-PESA Paybill.
🔄 How to Repay
Most licensed apps have a repayment tab or provide:
- M-PESA Paybill Number
- Bank Transfer
- In-App Payment Integration (PesaLink, M-PESA STK push)
Late repayment may affect your credit score or limit future borrowing.
🤔 Frequently Asked Questions (FAQs)
1. Are these 41 new loan apps safe to use?
Yes. These lenders are verified and regulated by the Central Bank of Kenya and must adhere to consumer protection laws.
2. How do I verify if a loan app is genuine?
Check the lender’s name on the CBK’s official list of approved digital credit providers. Only apps listed there are legal.
3. Do these apps check CRB?
Yes , all lenders are supposed to report to CRB in Kenya. However, non-payment could still be reported to CRB.
4. What is the typical interest rate?
Varies, but CBK-regulated lenders often offer between 8% and 36% APR, depending on the risk profile and term.
5. Can I borrow from more than one app at the same time?
Yes, but it is recommended to borrow responsibly. Overborrowing can lead to debt cycles.
6. What should I do if I’m harassed by a loan app?
Report the app to CBK at digitalcredit@centralbank.go.ke or contact the Office of the Data Protection Commissioner (ODPC).
📈 Growth of Kenya’s Digital Lending Ecosystem
Digital lending has become a key part of financial inclusion in Kenya. The government’s and CBK’s efforts to regulate the sector have led to:
- Reduced exploitation by fake apps
- Enhanced consumer trust
- Promotion of responsible borrowing
As of July 2025, 126 licensed digital lenders serve Kenyans with accessible credit for emergencies, school fees, business capital, and more.
🧠 Final Thoughts
The approval of these 41 new loan apps in Kenya by CBK is a welcome development in ensuring Kenyans access safe, reliable, and affordable credit. It’s critical, however, to stay informed, borrow responsibly, and always double-check an app’s authenticity.
📌 Quick Tips Before Borrowing
- Always verify on CBK’s website
- Read loan terms carefully
- Don’t borrow more than you can repay
- Avoid apps asking for upfront payments
- Contact customer care for clarification before accepting terms
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