- Moniepoint acquires 78% of Sumac Microfinance Bank
- Deal secures licence, unlocks Kenya market entry
NAIROBI, KENYA — Nigerian fintech Moniepoint has acquired a 78% stake in Sumac Microfinance Bank, securing a long-sought entry into Kenya’s tightly regulated financial services market.
The deal, finalised on February 27 after approvals from the Central Bank of Kenya and the Competition Authority of Kenya, grants Moniepoint a deposit-taking licence—an essential pillar for its credit-led expansion strategy.
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