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

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

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