Kenya's Central Bank has issued a six months' notice for digital credit providers (DCPs) to apply for licences or cease operations.
On his Twitter handle on Tuesday, Governor Patrick Njoroge said that regulations governing the operations of the DCPs will be gazetted later this month, paving the way for the licensing and oversight of the DCPs by Central Bank.
“All previously unregulated DCPs will be required to apply to CBK for a license by September 2022 or cease operations,” said Dr Njoroge.
Governor @njorogep: Regulations governing Digital Credit Providers will be gazetted later this month to pave way for the licensing and oversight of DCPs by CBK. All previously unregulated DCPs will be required to apply to CBK for a license by September 2022 or cease operations. pic.twitter.com/B4s28jZvbM
— Central Bank of Kenya (@CBKKenya) March 15, 2022
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