Moniepoint Eyes Expansion: Acquisition of Kenyan Bank on the Horizon
Recently, the *Competition Authority of Kenya (CAK)* granted its approval for Moniepoint to acquire a substantial 78% stake in Sumac Microfinance Bank, based in Nairobi. While the regulatory green light is a significant milestone, it's important to recognize that the conclusion of this deal remains pending.
In a recent statement to Techpoint Africa, Moniepoint conveyed that they have received the necessary regulatory approval from the CAK for the potential partnership with Sumac. The company…