Nairobi, March 28 -- The Central Bank of Kenya (CBK) has licensed 10 more digital lenders bringing the number to 32 in a fresh round of approvals.

In January this year, a cumulative 22 digital credit providers had been licensed following the approval of 12 licensees in that month, as the sector regulator sought to increase scrutiny of the lending space.

The sector has been rocked by controversy in the recent past that saw digital lenders take more unconventional methods to recover bad debts amid increased defaults.

"The Central Bank of Kenya (CBK) announces the licensing of additional 10 digital credit providers (DCPs)... this brings the number of licensed DCPs to 32 following the licensing of 22 DCPs announced in January 2023," said t...