Britain on Thursday pledged to work with Kenya’s financial technology (fintech) firms to increase the level of financial inclusion for low-income and underserved consumers in the east African nation.
Visiting lord mayor of the City of London Peter Estlin, also announced in Nairobi a 1.3 billion shillings (about 13 million U.S. dollars) of UK Aid support towards the Catalyst Fund.
“With support from the UK Department for International Development, the Catalyst Fund will help connect a further 30 local fintech companies with international investors and mentors, including Kenyan fintech companies,” Estlin said in Nairobi.
The Catalyst Fund supports business development and investor opportunities for early-stage fintech companies in emerging markets.
“Kenya’s fintech sector is strong, diverse and growing quickly. The innovators we met today show the future of Kenya’s economic growth and I am proud that the UK is able to support their work, helping create growth, jobs and the achievement of the global goals in partnership between our two countries,” said Jane Marriott, British High Commissioner to Kenya. Enditem