A licensed microfinance bank in Kenya offering SME loans, deposits, and money transfer services, with a significant market share.
Moniepoint gains foothold in Kenya with 78% stake in Sumac
Moniepoint Inc. secured regulatory approval for a 78% stake acquisition in Sumac Microfinance Bank. Kenya's Competition Authority approved the acquisition without conditions, citing no threat to market competition.
Moniepoint gets approval to acquire 78% stake in Kenya’s Sumac after KopoKopo setback
Moniepoint has received approval from the Competition Authority of Kenya to acquire a 78% stake in Sumac Microfinance Bank. The acquisition will allow Moniepoint to enter Kenya's regulated banking sector.
