Central Bank of Kenya orders digital credit firms to ‘cease and desist’

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Only 10 digital credit providers (DCPs) have been licensed to continue working in Kenya under new regulations, the central bank said, as it ordered firms that had not sought licences to “cease and desist”.

“All other unregulated DCPs that did not apply for licensing must cease and desist from conducting digital credit business,” said the central bank.

Including the 10 who received a green light, 288 digital creditors applied for licences during the six-month window the Central Bank of Kenya

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