The UK government has announced Sh1.15 billion support for Kenyan fintech companies. Lord Mayor of the City of London, Alderman Peter Estlin confirmed around £11 million funding during a Nairobi visit this week. The funds will be channeled to Kenya via the Catalyst Fund. The Catalyst Fund supports business development and investor opportunities for early-stage fintech companies in emerging markets. With this fund, 30 or so Kenyan Fintech companies can connect with international investors and mentors.
The British High Commissioner to Kenya, Jane Marriott acknowledged the UK government’s support. He further hoped to develop their fintech company further.