Moniepoint taps former Branch Kenya CEO to head its Kenya operations
Moniepoint has appointed former Branch Kenya CEO Rose Muturi to lead its Kenyan business following its acquisition of Sumac Microfinance Bank.
Rose Muturi, former Branch Kenya CEO, has joined Moniepoint as CEO of its Kenyan business. Muturi brings with her experience from banking and digital lending, having held roles at Standard Chartered Bank, Tala, and Branch, among others.
She also founded the Digital Financial Services Association of Kenya (DFSAK) to drive growth in the country’s digital lending space. Her appointment follows Moniepoint’s completion of the acquisition of Sumac Microfinance Bank after years of trying to enter the country.
The appointment signals Moniepoint’s intention to accelerate its expansion in Kenya as it integrates Sumac Microfinance Bank into its operations and builds products tailored to the local market. The Nigerian fintech has identified East Africa as a key growth region as it looks to replicate the success it has achieved in its home market.
Moniepoint joins a growing list of Nigerian fintechs that have expanded into Kenya in search of new growth opportunities. Companies including Risevest and Paystack have all established a presence in the country, attracted by its mature digital payments ecosystem and high mobile money penetration.
Muturi’s appointment also comes at a time when Kenya’s digital lending industry is undergoing increased regulatory scrutiny, with operators facing stricter licensing and consumer protection requirements. Her previous work in the sector, including advocacy through the Digital Financial Services Association of Kenya, could help Moniepoint navigate the regulatory landscape as it scales its operations.
Muturi is expected to lead the fintech’s strategy in Kenya, overseeing regulatory engagement, product localisation, and customer acquisition. Her experience working across commercial banking and fintech is likely to prove valuable as Moniepoint navigates Kenya’s financial services sector, where established banks, mobile money providers, and digital lenders already command significant market share.
The company, which serves millions of businesses and individuals across Nigeria and the United Kingdom, has steadily expanded beyond payments into banking, credit, and business management tools. Entering Kenya provides access to a large market with high mobile money adoption and a vibrant ecosystem of small and medium-sized enterprises.
