Moniepoint may extend its presence beyond Nigeria after getting approval to acquire Kenya’s payments and credit startup, Kopo Kopo.
The Competition Authority of Kenya has provided clarity by announcing that Moniepoint Inc. can now acquire Kopo Kopo.
The CAK oversees competition-related matters for transactions exceeding KES 1 billion, which means that the acquisition was the same or exceeded this amount.
Moniepoint Inc. says they have been vocal about their interest in Kenya as part of our mission to provide financial happiness for people across Africa.
This approval has been granted based on two key considerations during the merger analysis; first, the transaction is unlikely to negatively impact competition in the market for digital credit; and second, the transaction will not elicit negative public interest concerns.