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Tag: Digital Lenders
Latest Article 23 Sep 2022
The future of Digital Credit Providers under new regulations to protect consumers
Kenya has been a home for many digital lending apps, which are popular for their unsecured and instant loans disbursed through mobile phones. Unlike banks and Saccos where one is required to have a guarantor, these digital credit providers (DCPs) do not make it a requirement. Kenyans have embraced these apps since they are able […]...
Read MoreMore on Tag: Digital Lenders
20 May 2022
Here is what Digital Credit Providers need to know as licensing deadline approaches
The Central Bank of Kenya on Tuesday, May 17, 2022, issued a press release in relation to licensing of Digital Credit Providers (DCPs). The deadline for licensing of DCPs is September 17, 2022. ...
18 Mar 2022
New regulations set to tame predatory digital lending practices in Kenya
Digital lenders have up to September 2022 to comply with regulatory requirements, including licensing by the Central Bank of Kenya (CBK). The Central Bank of Kenya (Digital Credit Providers) Regulatio...
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