Stanbic freezes plans for a fintech subsidiary months after green light

Chief Executive Officer of Stanbic Bank Kenya and South Sudan Joshua Oigara.

Photo credit: File | Billy Ogada | Nation Media Group

Stanbic Holdings has put on hold plans to set up a fintech subsidiary months after the Capital Markets Authority(CMA) granted it approval.

The lender had not given details about what it intended to do with the subsidiary but now says the board has decided to pause the idea.

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