In Kenya, loan apps have become a popular way for cash-strapped customers to access credit without collateral.
The convenience of being able to access cash via M-PESA on their phones in a matter of seconds has made digital lenders highly successful in the country.
Currently, there are 32 licensed digital lenders, as the Central Bank of Kenya (CBK) recently added 10 more loan apps to its approved list.
CBK had received over 380 applications and is still assessing them.
The 32 approved loan apps are:
1. Anjoy Credit Limited
2. Asante FS East Africa Limited
3. Ceres Tech Limited
4. Colkos Enterprises Limited
5. EDOMX Limited
6. Extend Money Service Limited
7. Fourth Generation Capital Limited
8. Getcash Capital Limited
9. Giando Africa Limited (Trading as Flash Credit Africa)
10. Inventure Mobile Limited (Trading as Tala)
11. Jijenge Credit Limited
12. Jumo Kenya Limited
13. Kweli Smart Solutions Limited
14. Letshego Kenya Ltd.
15. Little Pesa Limited
16. MFS Technologies Limited
17. M-Kopa Loan Kenya Limited
18. Mwanzo Credit Limited
19. Mycredit Limited
20. MyWagepay Limited
21. Natal Tech Company Limited
22. Ngao Credit Limited
24. Pezesha Africa Limited
25. Rewot Ciro Limited
26. Risine Credit Limited
27. Sevi Innovation Limited
28. Sokohela Limited
29. Tenakata Enterprises Limited
30. Umoja Fanisi Limited
31. Zanifu Limited
32. Zenka Digital Limited.