Central Bank of Kenya (CBK), Kenya’s apex bank, has instructed commercial banks in the country to stop dealing with Nigerian fintechs, Flutterwave Payment Technology and Chipper Technologies.The CBK gave...
Umba, a U.S.-based digital bank with a focus on emerging markets, has acquired a majority share of Daraja, a Kenyan deposit-taking microfinance bank, for an undisclosed amount. Kenya’s monetary...
With the growing startup ecosystem in the world and the funding gaps that local founders face, backed by a $5 million fund, likely to extend to $10 million, FrontEnd...
Flutterwave Inc. denied reports of financial impropriety after Kenya’s High Court froze the startup’s bank accounts holding more than $40 million according to Bloomberg. The money, held in 52...
The Kenyan government has announced plans to introduce a 20% excise tax on fees charged by digital lenders. Earlier this week, Kenyan legislators proposed an amendment to the Excise Duty 2015...
This Fintech Brief by International Association of Deposit Insurers (IADI) provide a case study on the widespread usage of e-money in Kenya. The Excecuive summary reads “E-money is widespread...
Africa’s insurance penetration as a percentage of GDP is half the world average. However, many African countries have seen their insurance markets grow by double-digit CAGRs in the past...