Moniepoint Inc has appointed Rose Muturi as chief executive for Kenya operations, the Nigerian fintech unicorn confirmed on Tuesday. Muturi, who joined in June according to her LinkedIn profile, previously served as CEO of Branch Kenya for more than four years. The appointment follows Moniepoint's acquisition of Sumac Microfinance Bank earlier in the year, which provided the company with the licence required to operate in Kenya. Edidiong Uwemakpan, Moniepoint's vice president for corporate affairs, stated that Muturi will drive the group's strategic direction in Kenya rather than manage a standalone subsidiary. The move signals Moniepoint's expansion from securing regulatory approval in East Africa's biggest economy to building a full banking business, as competition intensifies among banks, fintechs, and mobile money platforms in the region.
Rose Muturi Brings Digital Banking Experience from Branch Kenya
Muturi spent more than four years at Branch, rising from East Africa managing director to chief executive of Branch Kenya. During her tenure, Branch became a neobank after acquiring Century Microfinance Bank, using its licence to expand beyond digital lending into broader banking services.
Muturi has held senior leadership positions at HF Group, Tala, TransUnion Kenya, Chase Bank, and Standard Chartered Bank. She founded the Digital Lenders Association of Kenya and serves on the board of the Association of Microfinance Institutions Kenya.
Uwemakpan confirmed that Muturi is employed by Moniepoint Group, while Sumac Microfinance Bank "is a separate entity with its own leadership team."
Moniepoint Expands Beyond Payments Through Sumac and Orda Acquisitions
Sumac holds a deposit-taking microfinance banking licence, allowing it to mobilise deposits and extend credit. The acquisition gives Moniepoint both the regulatory infrastructure and local management needed as it expands beyond payments in Kenya.
Shortly before completing the Sumac deal, the company acquired restaurant software provider Orda, extending its push beyond payments into software, lending, and banking services for small businesses.
In Nigeria, Moniepoint offers merchant payments, banking, credit, and business management tools through a single platform.
Moniepoint Builds Local Team with Nairobi Hiring Push
Moniepoint's careers page currently lists tens of open positions globally, including roles in Nairobi such as People Business Partner, Financial Planning Analyst, and Head of Product Control and Accounting.
"Moniepoint is building capacity in Kenya as it works to bolster its strategy in the market," Uwemakpan said.
FAQ
What is Rose Muturi's background before joining Moniepoint?
Rose Muturi served as CEO of Branch Kenya for more than four years, where she led the company's transformation into a neobank after acquiring Century Microfinance Bank. She has also held senior positions at HF Group, Tala, TransUnion Kenya, Chase Bank, and Standard Chartered Bank. She founded the Digital Lenders Association of Kenya and serves on the board of the Association of Microfinance Institutions Kenya.
Why did Moniepoint acquire Sumac Microfinance Bank?
Moniepoint acquired Sumac Microfinance Bank earlier in the year to obtain the licence required to operate in Kenya. Sumac holds a deposit-taking microfinance banking licence, allowing it to mobilise deposits and extend credit, providing Moniepoint with the regulatory infrastructure needed to expand beyond payments in East Africa's biggest economy.
