Moniepoint’s Acquires 78% stake in Kenya’s Sumac Microfinance Bank
The Competition Authority of Kenya (CAK) has given the green light to Moniepoint Inc., a U.S.-based fintech firm, for the acquisition of a 78% stake in Sumac Microfinance Bank Limited, marking a significant entry into the Kenyan financial services market. The approval, issued unconditionally, followed a regulatory review that concluded…
bubmagJune 4, 2025