London-headquartered fintech and payment solutions firm Unlimit has announced its entry into the Kenyan market after obtaining approval from the Central Bank of Kenya (CBK), this being the second destination in Africa after Nigeria.
The development is part of an ongoing aggressive expansion drive by the firm which has spelt out its mission as that of advancing the payment landscape in Africa and empowering businesses with cutting-edge payment solutions.
Unlimit, which rebranded from Unlimint last month, helps web shops and online merchants to accept credit cards and alternative payments over the Internet.
Initially launched in 2009 with a focus on payment processing services, the company has during its 14 years of existence expanded its scope to offer a range of financial services including banking as a service (Baas) and an on-ramp fiat solution for crypto and decentralised finance (DeFi).
“It gives me great pleasure to bring on board Kenya as our second African country, following the recent announcement of the awarding of our Nigerian license,” said Unlimit’s director for Africa and India Trevor Goott.
“We are also pleased to add Kenya to our global portfolio for our foreign merchants seeking access to the Kenyan market. The high demand from our international merchants to establish local operations in Kenya has further motivated us to enter the market. Also, given its strategic location in East Africa, Kenya serves as an ideal hub for the expansion of our operations in the region.”
Unlimit has pledged to deliver an unparalleled payment experience to its local clientele by offering diverse payment solutions that will cater for the preferences and unique requirements of homegrown enterprises in the country.
In recent years, Kenya has emerged as a leading force in the digital payments ecosystem, gaining global recognition for its ground-breaking mobile money revolution that was ushered in with the launch of what is perhaps the world’s most well-known example of fintech solutions – M-Pesa – in 2007.
Leveraging mobile payment technology, Kenya has created a robust payment infrastructure that presents promising opportunities for domestic and foreign enterprises seeking to establish a local presence.