US-based fintech Umba buys majority stake in Kenya’s Daraja microfinance bank

Umba, a US-based digital bank with a focus on emerging markets, has acquired a majority shareholding of Daraja, a Kenyan deposit-taking microfinance bank, for an undisclosed amount. Kenya’s monetary authority, the Central Bank of Kenya (CBK), said Umba had taken up 66.6% shareholding, an acquisition that is expected to fast-track Daraja’s digitization. This comes after […]