The Empower Africa Business Platform is Now Live !!!
The Competition Authority of Kenya (CAK) granted the approval on August 22, 2023, after a review of the proposed acquisition.
The CAK said the acquisition was unlikely to negatively impact competition in the digital credit market.
Moniepoint is a payments and lending platform that provides businesses and individuals access to financial services.
Kopo Kopo, meanwhile, is a credit scoring and lending platform that uses data from mobile phones to assess the creditworthiness of borrowers.
The acquisition of Kopo Kopo will allow Moniepoint to expand its operations into Kenya and other East African countries.
The acquisition is also a sign of the growing maturity of the African fintech market.
The acquisition is expected to close in the coming weeks.
In addition to the above, here are some other details about the acquisition:
– Moniepoint is backed by investors such as Tiger Global Management, Sequoia Capital, and Accel Partners.
– Kopo Kopo is backed by investors such as Partech Africa, 500 Startups, and Founders Factory Africa.
– The acquisition will help Moniepoint expand its reach in Kenya and other East African countries.
– The acquisition is also expected to help Moniepoint develop new financial products and services.

Swedfund, Sweden’s development finance institution, is providing a $20 million loan to the Africa Go Green Fund to expand debt financing for businesses and projects that reduce greenhouse gas emissions across Africa.

DEG, the German development finance institution, has increased its investment in Mediterrania Capital IV Mid-Cap by an additional €15 million.

Genser Energy has secured term and revolving credit facilities worth approximately $529 million (€456 million) to complete gas and power infrastructure in Ghana, strengthen its balance sheet, and support expansion into Côte d’Ivoire and other West African markets.