Nairobi, Feb. 25 -- The High Court has dismissed a petition seeking to declare the operations of four digital credit providers as illegal because they have not been licensed by the Central Bank of Kenya (CBK).

The court said although Mr Mark Muko had pleaded his case against Mwananchi Credit Ltd, Platinum Credit Ltd, Izwe Loans Ltd and Premier Credit Ltd precisely, the correct procedure would have been to exhaust the available dispute resolution mechanisms before moving to court.

The court ruled that the provisions of the Regulations to the Microfinance Act provide a dispute resolution mechanism through which complaints ought to be raised before the regulator.

"The court notes that the petitioner has not in any way averred or demonstra...