The licensing of digital credit providers by the Central Bank of Kenya (CBK) has opened the floodgates of new funding to the non-deposit taking entities.
CBK’s greenlight to 12 additional digital lenders at the end of January has, for instance, enabled Mycredit Limited to tap Sh325 million from Oiko Credit in a deal announced on February 1 with the proceeds expected to spur the lender’s medium-term lending programme to small and medium enterprises.
