Sh1.5 billion fund to back Kenyan fintech start-ups

Catalyst Fund Director Maelis Carraro during a tour of a Nairobi-based tech hub in October last year. PHOTO | DIANA NGILA

A Bill & Melinda Gates Foundation backed fund has announced $15 million (about Sh1.5 billion) to help Kenyan start-ups working to disrupt the financial sector through technology.

The Catalyst Fund also backed by J.P. Morgan and UK Aid says it will bankroll “promising” fintech start-ups in Kenya and four other countries including Nigeria, South Africa, India and Mexico over the next three years.

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