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Lagos-based firm to acquire 78pc stake in Sumac Microfinance
Competition Authority of Kenya (CAK) Director General David Kibet Kemei makes his remarks during the release of the 2024 Banking Customer Satisfaction Report held at the Radisson Blu Hotel on February 12, 2025.
Lagos-based Moniepoint Inc is set to acquire a 78 percent shareholding in Sumac Microfinance Bank Limited, continuing a trend of acquisitions within the local micro-lending space.
The Competition Authority of Kenya (CAK) has disclosed the transaction that has also received unconditional approval from the watchdog.
