List Of Unregulated Mobile Loan Apps That Will No Longer Have Access To CRB Information

0

On April 15, the Central Bank of Kenya (CBK) withdrew the approvals granted to unregulated digital (mobile-based) and credit-only lenders as third party credit information providers to Credit Reference Bureaus (CRBs).

The withdrawal was in response to numerous public complaints over misuse of the Credit Information Sharing System (CIS) by the unregulated digital and credit-only lenders, and particularly their poor responsiveness to customer complaints.

Regulated digital lenders are the ones that are attached to regulated financial institutions like banks and microfinance institutions. These include M-Shwari, Absa’s Timiza, KCB-M-Pesa and Equity’s Eazzy Loan

Thus, unregulated digital and credit-only lenders will no longer submit credit information on their borrowers to CRBs.

Read: CBK Sets Ksh1000 As Minimum Threshold for CRB Listing, Withdraws Approvals For Unregulated Mobile Lenders

According to FSD, there were approximately 110 mobile loan apps on the two main app stores from 74 unique developers as of September 2018. As of April 2019, 65 of these apps had been pulled down while 47 new ones developed by 43 unique developers.

It is estimated that there were 92 digital loan apps as of April 2019.

The following are some of the apps which are not regulated, and will have no access to CRB information.

  1. Tala
  2. Zenka
  3. Branch
  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 Loans Kenya
  22. Afrika loans
  23. Mshiko Chap
  24. Kenya Quick Loan Shop
  25. Senti
  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
  40. Lendy LOANS
  41. Umba (Formerly Mkopo Kaka)
  42. UbaPesa
  43. Okoa 0% Interest Loans
  44. Kash Pesa Loans
  45. Fair Branch: Instantly and Accuracy
  46. Top Loan Lenders
  47. HiCash Quick and Easy Loans to MPESA
  48. Loans Chap Chap
  49. Izwa Loans
  50. Fintech Loans
  51. Imarika Credit
  52. PesaPata
  53. Okolea Quick Loans
  54. M-KOPAY
  55. Okoa Pesa pap
  56. Kenya Quick Loans Market
  57. Instant Cash- Reliable Money
  58. Phedha Loans
  59. mKopa
  60. tumaPesa
  61. Duta
  62. Saida
  63. Aspira
  64. Pezesha

For all the latest technology and business news from Kenya and the world, follow us on Twitter and like us on Facebook.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: