2022-06-23

Procedures For Licensing Digital Credit Providers

To obtain a license to operate as a Digital Credit Provider (DCP) in Kenya, applicants must follow the Central Bank of Kenya's three-stage process: Stage 1 involves proposing and reserving business names with the Registrar of Companies and submitting them to the Central Bank of Kenya (CBK) for approval. Stage 2 entails completing and submitting license application forms, fit and proper forms, and supporting documentation online, followed by submitting original documents and fees to the CBK. In Stage 3, the CBK assesses the application, and if satisfied, the applicant tests their data submission capability before paying the prescribed license fees and receiving the DCP license.

Kenya

Central Bank of Kenya

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