×
App Icon
The Standard e-Paper
Kenya's Bold Newspaper
★★★★ - on Play Store
Download Now

Over 700 firms seek CBK licence amid crackdown on predatory digital lenders

CBK Governor Dr. Kamau Thugge before the National Assembly's Committee on Finance and National Planning in regards to the implementation of Central Bank Rate (CBR) at Bunge Towers, Parliament, Nairobi on March 25th, 2025. [Elvis Ogina,Standard]

More than 700 digital credit providers have applied to lend money via mobile phones, the banking regulator said yesterday.

This underscores the booming popularity and lucrative nature of mobile loans as Kenyans increasingly turn to them for financial survival. 

Get Full Access for Ksh299/Week
Fact‑first reporting that puts you at the heart of the newsroom. Subscribe for full access.
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in
Business
Remittances slide under Trump policies
Opinion
How effective is your board in these changing times?
Business
Safaricom shareholding change won't alter governance - Ndegwa
Business
Kenya Pipeline IPO launches as State eyes Sh106b