• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Fintech

Umba Acquires Kenya’s Daraja MFB Owning 70% Shares Per the CBK Approval.

Umba continues to expand its business investment and operations across Africa.

by
July 30, 2022
in Fintech
Share on FacebookShare on Twitter

Umba, the African digital bank has reportedly crossed the threshold into the Kenyan FinTech marketplace as the FinTech startup company acquired Daraja Microfinance Bank – an indigenous microfinance bank based in Kenya. Umba officially declared Daraja as its subsidiary after the Kenyan apex bank regulatory system approved the acquisition deal that was succeeded by the sales of company shares in which Umba currently owns most of Daraja’s shares.

Although both Umba and the Kenyan deposit loan microfinance bank spurned to disclose the exact amount the FinTech startup placed a bid to complete the acquisition deal. Umba’s announcement about the Daraja acquisition revealed the FinTech company bought a significant amount of Daraja’s shares that the Central Bank of Kenya discerned to be valued at 70% above Daraja’s net worth.

Per Daraja’s consent to be sold out, the Kenyan Central Bank and its regulatory system intervention ensured the deal was fair enough to protect natives of its FinTech marketplace. Umba appealed to the Kenyan apex bank to regulate its acquisition proposal after the FinTech startup company secured the previous $15m Series A deal in April 2022. The CBK approval depicts that Umba’s corporate finances system is free of anomalies, unlike other FinTech companies the CBK scolded for defaulting on its policies.

Techbooky.africa points out that the Kenyan apex bank consented to approve the deal because they both possess intertwined business returns since Umba did not completely acquire Daraja’s shares. The CBK approved the deal believing that Umba FinTech will innovate its microfinance banking industry.

Umba has been keen on operating its FinTech services across the commercial crannies of Africa. After the secured $15m Series A deal was secured as Umba’s business capital, the FinTech company has settled to acquire Daraja in line with Umba’s scout report. Still, Umba is keen on entering more African markets by selling seamless FinTech services such as P2P transfer, remittance, cross-border payment, loans, traditional banking, and other seamless FinTech ops.

In contrast, Umba was launched in 2018 unlike its subsidiary company that launched in 2015, both financial service providers will continue to serve the African marketplace with seamless FinTech operations based on offering loans to leverage digital banking adoption in Africa.

Daraja MFB is currently dependent on Umba’s high-end technology inclined on finance management intended to accelerate its micro-banking operations in Kenya likewise its parent company’s FinTech operations in Kenya. Aside from the series A $15m deal, Daraja MFB is another investment rubric Umba stationed in Kenya. While the deal last as Daraja remains Umba’s subsidiary, the Kenyan financial institution will be innovated into a seamless microfinance bank in its host country.

The Umba subsidized Daraja MFB owning the staking of its company share percentage while exhibiting intertwined business relations including merging their respective customer base. Daraja’s microfinance system is developed to serve the Kenyan SMEs with offered loans while Umba needs to leverage the digital financial service gap in Kenya transforming Daraja MFB into a digitized loaner. Umba acquiring Daraja tends to innovate the entire Kenyan marketplace via Daraja’s microfinance operation.

Related Posts:

  • Unauth Profile Pictures- gmail
    African Digital Bank Umba Acquires Majority Stake In…
  • playstore
    Google Kenya Blacklisted Nearly 500 Unlicensed DCP…
  • 5492DDE6-C8EA-44AD-B1C4-E20E3B09AEAD
    Nigerian Online Lender, Payhippo Acquires Maritime…
  • The Kenyan Regulators Have Discharged And Acquitted Flutterwave.
    The Kenyan Regulators Have Discharged And Acquitted…
  • CBK
    Kenya’s Central Bank Says Flutterwave And Chipper…
  • Kenya’s Central Bank Sanctions Flutterwave and Chipper Cash for Operating Without License.
    Kenya’s Central Bank Sanctions Flutterwave and…
  • CBK-QR-Code-Launch-RESIZED
    The CBK Launches KE-QR Code For Standard Remittance…
  • paystack licence
    Nigeria's Paystack Receives PSP License From Kenya's…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: fintech. acquisitionkenya

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Vietnam Will Soon block Telegram, App Owners are Surprised May 24, 2025
    • Widespread Downtime Reported By X Users May 24, 2025
    • MongoDB Enters Africa Through Nigeria Targeting $100B Digital Market May 24, 2025
    • Meta Quest’s Headgear Will Soon Support 3D Instagram Images May 24, 2025
    • Mozilla To Shut Down Pocket To Concentrate On Firefox May 24, 2025
    • OpenAI Upgrades Operator Agent’s AI Model May 24, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    Recent News

    Court In Russia Issues Approval To Block Telegram App

    Vietnam Will Soon block Telegram, App Owners are Surprised

    May 24, 2025
    Widespread Downtime Reported By X Users

    Widespread Downtime Reported By X Users

    May 24, 2025
    MongoDB Enters Africa Through Nigeria Targeting $100B Digital Market

    MongoDB Enters Africa Through Nigeria Targeting $100B Digital Market

    May 24, 2025
    Meta Quest’s Headgear Will Soon Support 3D Instagram Images

    Meta Quest’s Headgear Will Soon Support 3D Instagram Images

    May 24, 2025
    Mozilla To Shut Down Pocket To Concentrate On Firefox

    Mozilla To Shut Down Pocket To Concentrate On Firefox

    May 24, 2025
    OpenAI Upgrades Operator Agent’s AI Model

    OpenAI Upgrades Operator Agent’s AI Model

    May 24, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok