By John Kariuki
The Central Bank of Kenya CBK has taken a major step to enhance consumer protection and rebuild trust in the country’s rapidly expanding digital lending sector by licensing 41 new Digital Credit Providers DCPs including the reputable Jijenge Credit. This latest licensing move announced on June 5 2025 raises the total number of licensed digital lenders in Kenya to 126 up from 85 licensed as of October 2024.
For Jijenge Credit the CBK license represents not just regulatory approval but a strong endorsement of its commitment to responsible and ethical lending. Known for its customer focused approach Jijenge Credit views the licensing as an opportunity to continue delivering affordable and accessible credit solutions while adhering to the highest standards of consumer protection.
“We are honored to be part of the licensed digital lenders” a senior official from Jijenge Credit stated. “This milestone reaffirms our mission to support Kenyans with affordable and ethical credit services especially during times of financial need.”
The CBK’s licensing drive forms part of a broader regulatory clampdown on unregulated and unscrupulous digital lenders whose practices had alarmed consumers and policymakers alike. Since March 2022 the CBK has received over 700 applications from digital lenders seeking to formalize their operations. The regulator working closely with agencies such as the Office of the Data Protection Commissioner has meticulously evaluated applicants based on key criteria including consumer protection measures data privacy governance structures and financial soundness.
By bringing firms like Jijenge Credit under formal oversight CBK aims to foster a safer and more transparent digital credit market. Licensed lenders are now bound by clear legal and ethical standards marking a decisive shift away from the unchecked practices of the past which often featured exorbitant interest rates harsh debt recovery methods and misuse of customer data.
Consumers are encouraged to verify the licensing status of digital lenders on the CBK website and report any suspicious or unlicensed providers via the official CBK contact channels.
As the digital credit landscape evolves the inclusion of trusted players such as Jijenge Credit signals a promising future one where innovation flourishes hand in hand with consumer rights and protection.
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