How to Check If a Digital Lender Is Licensed by CBK
More than 500 loan apps were pulled from the Google Play Store in Kenya in a single enforcement wave, after operating without a licence. By one industry count, of roughly 800 lending apps that have applied for a Central Bank of Kenya licence since digital lending took off, only around a quarter actually made it through. If you've ever downloaded a loan app on a friend's recommendation without checking whether it's actually regulated, here's how to find out in under two minutes. Why This Actually Matters An unlicensed lender isn't just operating in a legal grey area, it typically means none of Kenya's borrower protections apply to you. Licensed Digital Credit Providers are legally required to disclose the full Total Cost of Credit upfront, give borrowers a 24-hour cooling-off period, and are barred from harassment tactics like messaging everyone in your phone contacts over a missed payment. Unlicensed lenders routinely ignore all of it, and because they're no...
