Moniepoint Inc is strengthening its long-term commitment to Kenya with the appointment of seasoned banking executive Rose Muturi to lead its operations in the country. The move comes months after the company’s acquisition of Sumac Microfinance Bank and signals the next phase of its strategy to build a broader financial services business in East Africa.
The appointment gives Moniepoint experienced local leadership as it prepares to expand beyond payments into banking, lending and business services. It also demonstrates the company’s commitment to investing in Kenya, one of East Africa’s largest and most competitive financial markets.
Confirming the appointment, Moniepoint Vice President for Corporate Affairs Edidiong Uwemakpan said Muturi will focus on leading the group’s strategy in the country rather than managing Sumac Microfinance Bank.
“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,” Uwemakpan said. She added that Muturi is employed by Moniepoint Group, while Sumac Microfinance Bank remains “a separate entity with its own leadership team.”
The appointment follows Moniepoint’s acquisition of Sumac Microfinance Bank, which gave the Nigerian fintech a deposit-taking microfinance banking licence in Kenya. The licence provides the regulatory foundation needed to offer a wider range of financial services, including savings and credit products, as the company expands its presence in the market.
Muturi brings significant experience to the role. Before joining Moniepoint in June, she spent more than four years at Branch, where she rose from East Africa Managing Director to Chief Executive of Branch Kenya. During her leadership, Branch transformed into a neobank after acquiring Century Microfinance Bank, allowing it to expand from digital lending into broader banking services.
She has also held senior leadership roles at HF Group, Tala, TransUnion Kenya, Chase Bank and Standard Chartered Bank. Beyond her corporate career, Muturi founded the Digital Lenders Association of Kenya and serves on the board of the Association of Microfinance Institutions Kenya, giving her extensive knowledge of Kenya’s financial services sector.
Moniepoint’s recent moves indicate that it is building a full-service financial platform rather than remaining solely a payments provider. Alongside the Sumac acquisition, the company recently acquired restaurant software provider Orda, expanding its offerings into software, lending and banking solutions for small businesses.
In Nigeria, Moniepoint already provides merchant payments, banking, credit and business management tools through a single platform. The company is expected to build on that model as it expands in Kenya, offering businesses a wider range of financial and operational solutions.
The company is also growing its local workforce. Its careers page lists several Nairobi-based vacancies, including People Business Partner, Financial Planning Analyst, and Head of Product Control and Accounting. According to Uwemakpan, Moniepoint is continuing to invest in local talent as it expands, noting that “Moniepoint is building capacity in Kenya as it works to bolster its strategy in the market.”
With experienced leadership, a banking licence and continued investment in talent, Moniepoint is positioning itself to play a bigger role in Kenya’s financial services industry while supporting greater access to digital banking solutions for businesses and consumers across the country.
Source: TechCabal
