Is M-KOPA, Watu or Lipa Later CBK-Licensed? How to Check Any Instalment Lender

Updated 28 October 2026

Yes: M-KOPA, Watu and Lipa Later are all on the Central Bank of Kenya’s list of licensed digital credit providers. The CBK Directory of Digital Credit Providers updated on September 29, 2026 lists M-Kopa Loan Kenya Limited (licensed January 30, 2023), Lipa Later Limited (March 6, 2024), Mogo Auto Limited (June 27, 2024), Watu Credit Ltd (June 5, 2025) and CIM Credit Kenya Limited, whose listed email is on the Aspira domain (September 28, 2026). You can check any other phone, solar or boda instalment lender yourself in about two minutes using the steps below.

Checking matters because a licensed lender has to follow CBK’s rules on pricing disclosure, debt collection and data use, and you have somewhere to complain if it does not. Since December 27, 2024, buy now pay later and asset finance have also been pulled into CBK oversight by the Business Laws (Amendment) Act, 2024, as our guide to your rights under the 2024 BNPL law explains.

Instalment Lenders on the CBK Licensed List

The September 29, 2026 directory has 281 licensed digital credit providers in total. Note that the brand name on a shop banner is often not the licensed company name, which is why the table shows both.

Names We Did Not Find on the List

Some well-known instalment brands do not appear in the digital credit directory under their own names. That does not automatically mean they are unlicensed: some sell under a different legal entity, some operate under hire purchase (which the 2024 Act carves out of CBK’s definition), and pay-as-you-go solar sits in a category CBK can still determine. It does mean you should ask the seller which company finances the item and check that name.

• Sun King (pay-as-you-go solar): no entity with that name in the September 2026 directory.
• Safaricom Lipa Mdogo Mdogo: Safaricom is not in the digital credit directory. Ask at the shop who the credit provider on your agreement is.

How to Check If an Instalment Lender Is CBK-Licensed

1. Get the legal name. Look at the agreement, the receipt or the footer of the company’s website. Watu’s site, for example, says “Watu Credit Limited is licensed and regulated by the Central Bank of Kenya”.
2. Open CBK’s directory. On centralbank.go.ke, go to the licensed institutions section and open the latest Directory of Digital Credit Providers PDF. Note the “updated on” date on the first page.
3. Search the PDF (Ctrl+F on a computer, or “Find in page” on a phone) for the legal name, not just the brand.
4. Match the contacts. Compare the phone number and address in the directory with the ones the seller gave you. A fake agent may use a real brand name but a different number.
5. Check our tracker. Our Verified Lender Tracker re-matches popular loan apps and lenders against the CBK list and shows their published costs.

Red Flags Even When the Brand Is Licensed

• You are asked to send the deposit to a personal M-Pesa number rather than an official paybill.
• The “agent” contacted you on social media and offers delivery after payment.
• Nobody will tell you the total you will pay over the full term.
• You are pushed to sign the same day without seeing the agreement.

For M-KOPA, the official paybill is covered in our M-KOPA paybill guide. For Watu’s plan, see our guide to Watu Simu.

Why Licensing Protects You

A licensed lender can be reported to CBK if it breaks the rules, and its handling of your data falls under the Data Protection Act, enforced by the ODPC. Licensed lenders also report to credit reference bureaus, which cuts both ways: paying on time builds a record, while missed payments can follow you. check your CRB status if you are unsure where you stand, and read our CRB Kenya guide. Before signing any plan, work out the real price with our Lipa Mdogo Mdogo true cost guide, and if the contract is labelled hire purchase, read hire purchase vs buy now pay later.

Frequently Asked Questions

Is M-KOPA licensed by CBK?

Yes. M-Kopa Loan Kenya Limited is in the CBK Directory of Digital Credit Providers, licensed on January 30, 2023.

Is Watu Credit licensed by CBK?

Yes. Watu Credit Ltd was licensed on June 5, 2025, per the September 29, 2026 directory.

Is Lipa Later licensed by CBK?

Yes. Lipa Later Limited was licensed on March 6, 2024.

Is Aspira licensed in Kenya?

The directory lists CIM Credit Kenya Limited, licensed September 28, 2026, with a contact email on the aspira.co.ke domain. Confirm with the company that this is the entity on your agreement.

How many digital credit providers has CBK licensed?

The directory updated on September 29, 2026 lists 281.

Where do I complain about an instalment lender?

Start with the lender’s own customer care, then escalate to CBK. Data misuse or harassment can also be reported to the ODPC.

Licence details checked on October 27, 2026 against the CBK Directory of Digital Credit Providers updated on September 29, 2026, published on centralbank.go.ke.