Nigerian fintech unicorn Moniepoint Inc has appointed Rose Muturi, a seasoned banking and fintech executive, as its Chief Executive for Kenya, signaling intensified efforts to expand its footprint in East Africa’s largest economy.
The appointment comes months after Moniepoint acquired Sumac Microfinance Bank, a move that granted the company a deposit-taking licence and a regulatory foothold in the Kenyan market. Muturi joined the company in June.
In a statement issued on Tuesday, Moniepoint confirmed that Muturi will oversee the group’s overall strategic direction in Kenya rather than managing the day-to-day operations of its newly acquired subsidiary.
“We can confirm that Rose Muturi has joined Moniepoint Inc. as CEO to l
ead 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.
Uwemakpan emphasized that Muturi is employed by Moniepoint Group, while Sumac Microfinance Bank remains a separate entity with its own leadership team.
Muturi brings extensive experience to the role. She previously served as CEO of Branch Kenya for over four years, during which the digital lender acquired Century Microfinance Bank and evolved into a neobank offering broader financial services.
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Her career also includes senior positions at HF Group, Tala, TransUnion Kenya, Chase Bank, and Standard Chartered Bank. She is the founder of the Digital Lenders Association of Kenya and sits on the board of the Association of Microfinance Institutions Kenya
Beyond Payments
The strategic hire and the Sumac acquisition point to Moniepoint’s ambition to expand beyond payments into full banking, lending, and business management solutions in Kenya.
Sumac’s deposit-taking microfinance licence enables the company to mobilize deposits and offer credit, capabilities that complement Moniepoint’s existing model in Nigeria, where it provides merchants with payments, banking, credit, and business tools through a single platform.
The company further strengthened its position in the small business segment with the recent acquisition of restaurant software provider Orda.
Moniepoint is also actively building its local team, with multiple senior positions currently open in Nairobi, including roles in people management, financial planning, and product control.
“Moniepoint is building capacity in Kenya as it works to bolster its strategy in the market,” Uwemakpan added.
