Power Financial Wellness Secures CBK License in Kenya, Cementing Trust and Growth
Power Financial Wellness, the fintech platform redefining how African workers access dignified financial services, has officially secured a license from the Central Bank of Kenya (CBK). This milestone affirms the company’s commitment to responsible financial innovation and further solidifies its role as a trusted provider of digital credit and financial wellness tools across the region.
The license, granted under Kenya’s Digital Credit Providers regulations, represents a key moment in Power’s evolution from an early-stage startup to a fully regulated institution. It positions the company to scale its impact with greater transparency, compliance, and accountability.
“This license is more than a regulatory box ticked,” said Brian Dempsey , the CEO and co-founder of Power Financial Wellness. “It’s a validation of our model, our ethics, and our long-term vision. We believe access to fair, flexible financial services is a right, not a privilege, and this license allows us to deliver on that belief with the full confidence of the market.”
Power partners with employers to offer salary advances and term loans at favourable rates to avoid predatory lenders. Furthermore, through strategic partnerships, Power enables the workforce to easily allocate earnings into investment and savings accounts, as well as enrol in insurance. Its products are designed to meet the realities of individuals across all income brackets while supporting productivity and retention for businesses.
With the CBK license in place, Power now operates with official recognition and oversight, assuring both partners and users of the platform’s security, integrity, and compliance with Kenya’s regulatory guidelines.
“This is a foundation for scale,” added Dempsey. “And it’s a promise to our users, partners, and regulators that we’re here to build a system that works for everyone.”