Nigerian fintech unicorn Moniepoint Inc. has appointed former Branch Kenya CEO Rose Muturi to lead its operations in Kenya, signalling a major step in the company’s expansion strategy following its acquisition of Sumac Microfinance Bank earlier this year.
The appointment underscores Moniepoint’s ambition to deepen its presence in East Africa as it looks to evolve from securing a regulatory foothold to building a full-scale banking business in one of the continent’s most competitive financial markets.
Confirming the development in a statement, Moniepoint said Muturi’s role extends beyond overseeing its recently acquired microfinance bank. Instead, she will be responsible for driving the group’s broader strategy in Kenya.
“We can confirm that Rose Muturi has joined Moniepoint Inc. as CEO to lead our Kenya operations, driving the group’s strategic direction in the country rather than managing a standalone subsidiary,” said Edidiong Uwemakpan, Moniepoint’s Vice President for Corporate Affairs.
She added that while Muturi is employed directly by Moniepoint Group, Sumac Microfinance Bank will continue operating independently under its existing leadership.
“Sumac Microfinance Bank is a separate entity with its own leadership team.”
A Strategic Hire for Kenya’s Banking Market
Muturi brings extensive experience in Kenya’s financial services sector, having spent more than four years at Branch, where she rose from Managing Director for East Africa to Chief Executive Officer of Branch Kenya.
During her tenure, Branch transitioned into a digital bank after acquiring Century Microfinance Bank, using the banking licence to expand beyond digital lending into broader financial services.
Her career also includes senior leadership roles at HF Group, Tala, TransUnion Kenya, Chase Bank, and Standard Chartered Bank, making her one of the country’s most experienced fintech and banking executives.
Beyond her corporate career, Muturi is the founder of the Digital Lenders Association of Kenya and currently serves on the board of the Association of Microfinance Institutions Kenya.
Moniepoint Eyes Banking Beyond Payments
The appointment comes months after Moniepoint acquired Sumac Microfinance Bank, a move that gave the Nigerian fintech a deposit-taking microfinance banking licence in Kenya.
That licence allows the company to mobilize customer deposits and extend credit—capabilities that significantly broaden its offering beyond digital payments.
Industry observers see the combination of Sumac’s regulatory licence and Muturi’s experience leading regulated financial institutions as a strong indication that Moniepoint intends to replicate its Nigerian business model in Kenya.
In Nigeria, the fintech has built a comprehensive ecosystem that combines merchant payments, business banking, lending and business management tools on a single platform, particularly for small and medium-sized enterprises (SMEs).
Expansion Continues Across Africa
Moniepoint’s Kenyan expansion has extended beyond banking.
Shortly before completing the Sumac acquisition, the fintech also acquired restaurant software company Orda, strengthening its presence in software solutions for small businesses and complementing its payments and lending products.
The company also appears to be accelerating recruitment in Kenya. Its careers portal currently lists several Nairobi-based positions, including People Business Partner, Financial Planning Analyst, and Head of Product Control and Accounting, suggesting it is assembling the local leadership and operational teams needed to support long-term growth.
According to Uwemakpan, the hiring drive reflects the company’s broader ambitions in the country.
“Moniepoint is building capacity in Kenya as it works to bolster its strategy in the market.”
With the appointment of Rose Muturi, the acquisition of Sumac Microfinance Bank and continued investment in local talent, Moniepoint is positioning itself to compete not only in digital payments but also in banking, lending and financial services as it expands its footprint across East Africa.
