FinTech in Kenya: Towards enhanced funding and investment

TheCityUK and the Nairobi International Financial Centre (NIFC) share common goals in wanting to ensure that our respective financial services sectors continue to be attractive, open and competitive in a global market.

In this short paper, the Funding & Investment Workstream of the Nairobi International Financial Centre Authority / TheCityUK Fintech Project has strived to identify proposals that will enable Kenyan FinTechs to have better access to suitable levels of finance allowing them to more easily establish and grow. The paper also covers some of the funding challenges faced by Kenyan FinTechs and outlines some potential mitigants to these challenges.

FinTech in Kenya

FinTech was the sector with the most funded startups in 2021, with 27 ventures receiving backing, making up 31% of Kenya’s funded companies

FinTech was the third largest sector to attract funding, contributing 21.3% (equivalent to US$62m) of the total capital raised in 2021.

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FinTech in Kenya: Towards an enhanced policy and regulatory framework

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