Yesterday, the Central Bank of Kenya announced that it Prohibit unregulated mobile and credit-only lenders from providing information to credit reference bureaus. This was due to the many complaints the regulator received from the public from these unregulated lenders.

The question people are now asking is: which lenders have been denied access to CRBs by the central bank?

We can remedy this by informally grouping these digital lenders into two major groups: regulated and unregulated.

Regulated digital lenders are those who are attached to regulated financial institutions such as banks and microfinance institutions. These include Mshwari, Timiza d’Absa, KCB MPESA, Eazzy Loan from Equity and others.

The landscape of unregulated digital lenders is much larger and they operate in a regulatory vacuum. According to FSD Kenya, loan regulation in Kenya is done by institutional form and not by activity. The majority of these digital credit providers do not take deposits and therefore are neither licensed nor regulated.

According to FSD, there were around 110 mobile loan apps on the two main app stores of 74 unique developers as of September 2018. As of April 2019, 65 of these apps had been phased out while 47 new ones were developed by 43 unique developers. So we can safely say that there were 92 digital lending apps as of April 2019 in app stores and the number could be higher.

If we remove the list of banking and microfinance apps from this list (since they are regulated), you will be left with a list of unregulated digital lending apps that are available to consumers.

These are the best digital loan apps in Kenya and this list is not exhaustive. This list excludes applications from regulated institutions such as banks and microfinance institutions. These are the apps most likely to be blocked from sending your credit information to CRBs.

  1. Tala
  2. Zenka
  3. Plugged
  4. Okash
  5. Opesa
  6. Kashway
  7. LionCash
  8. i-Save Mobile
  9. Lendi mkopo
  10. Okoa cash loans
  11. Fuliza branch
  12. Investor
  13. MB-Kash
  14. iPesa
  15. Kopa Jirani
  16. FlashPesa
  17. Zash loan
  18. Okolea
  19. Kava personal loans
  20. Kua
  21. Palm Kenya Loans
  22. Afrika loans
  23. Mshiko Chap
  24. Kenya Quick Loan Shop
  25. Felt
  26. Hikash
  27. MKash Bee
  28. PesaFlash
  29. Peso loans
  30. Carbon
  31. Hela Pesa
  32. Eazzy loans
  33. Fululiza Senti
  34. Stawika
  35. Tajiri
  36. Loanika
  37. Saida
  38. Kuwazo
  39. Fair money
  41. Umba (formerly Mkopo Kaka)
  42. UbaPesa
  43. Loans at 0% interest Okoa
  44. Kash Pesa Loans
  45. Fair branch: instantly and precisely
  46. Main lenders
  47. Fast and easy HiCash loans at MPESA
  48. Chap Chap Loans
  49. Izwa loans
  50. FinTech loans
  51. Credit Imarika
  52. PesaPata
  53. Okolea quick loans
  54. M-KOPAY
  55. Okoa Pesa pap
  56. Kenya Quick Loans Market
  57. Instant Money – Reliable Money
  58. Phedha loans
  59. mKopa
  60. Duta
  61. Aspira
  62. Pezesha

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