Nigerian digital bank FairMoney in talks to buy Umba in $20M all-stock deal, sources say
- FairMoney is in discussions to acquire Umba in a $20 million all-stock deal.
- The potential acquisition would allow FairMoney to expand into Kenya.
- Umba's microfinance license in Kenya could be a key factor in the acquisition.
The potential acquisition of Umba by FairMoney presents an opportunity for FairMoney to expand its operations and customer base in Africa, specifically in Kenya. However, the challenges facing fintechs in the region and Umba's financial status may impact the success of the deal. It will be interesting to see how FairMoney leverages Umba's microfinance license and combines their capabilities to launch services in Kenya.
This is very exciting!