China firm acquires majority stake in Kajiado-based lender

The Central Bank of Kenya, Nairobi. FILE PHOTO | DENNIS ONSONGO | NMG

A Chinese investor who owns mobile digital lenders across Kenya and Nigeria has received Central Bank of Kenya (CBK) approval to buy the majority stake in Choice Microfinance Bank Limited (Choice MFB).

The CBK announced on Tuesday that Mr Robin Duan Wei is taking up an 85 percent stake in the Kajiado based microlender through his company Wakanda Network Limited, which is based in the UK.

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