Companies

Craft Silicon revenue hits Sh5bn on pay platform use

SILI

Craft Silicon founder and chief executive Kamal Budhabhatti. FILE PHOTO | NMG

Kenyan IT multinational Craft Silicon’s revenues grew by 26 per cent to Sh5 billion last year, the privately-owned firm has revealed.

Its founder and chief executive Kamal Budhabhatti says the value of transactions channelled through its payment platform was Sh440 billion ($4.4 billion) in 2016, and is projected to hit Sh530 billion ($5.3 billion) by the end of the current financial year.

Craft provides financial software products ranging from core banking platforms, electronic and mobile payment gateways.

“The value of these transactions that pass via our platform was Sh440 billion ($4.4 billion) in 2016, and we are hoping that this would be about Sh530 billion ($5.3 billion) this year,” said Mr Budhabhatti.