Digital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Facebook X (Twitter) Instagram
Trending
  • AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal
  • Nigerian Airports Go Cashless As FAAN Partners Paystack To Launch Contactless Payments
  • ‘AI In Nigeria’ Announces InnovateAI Lagos 2026
  • Borderless TEK Expands Free Training To Empower Adults Transitioning Into Tech
  • Nigeria’s Invoice Gap: Why Late Payments Are Stalling Small Businesses And What Can Be Done About It
  • Kano State Government To Host Cycling Kano Event In December
  • Nigerian-Owned Radease, 4 Other African Startups Named Winners Of Llama Impact Grant
  • Cybercrime Case Against Senator Natasha: Court To First Hear Jurisdiction Objection
Facebook X (Twitter) Instagram
Digital Times NigeriaDigital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Digital Times Nigeria
Home » Umba, Nigeria’s Digital Bank Begins Operations In Kenya
BANKING

Umba, Nigeria’s Digital Bank Begins Operations In Kenya

DigitalTimesNGBy DigitalTimesNG13 February 2023No Comments2 Mins Read1 Views
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
UMBA 2
Share
Facebook Twitter LinkedIn Pinterest Telegram Email WhatsApp

Pan-African digital bank, Umba which acquired Kenya’s Daraja Microfinance Bank last year, has officially launched its operations in the country.

The financial institution has been operating only in Nigeria but has its eyes set on several African markets.

The move now enables Umba to offer full banking services in Kenya, including current accounts insured by the Kenya Deposit Insurance Corporation (KDIC), interest-bearing savings accounts, fixed deposit accounts, lending, and payments.

Umba was founded in 2018 by Irish entrepreneur Tiernan Kennedy and former Munster rugby player Barry O’Mahony.

The startup aims to make it easier for consumers and SMEs to interact with banks and mobile money networks, providing a transparent, low-fee service that allows users to take control of their financial lives.

Users get a no-fee current account, low-cost payments, bill pay, and loans.

The lender leverages the proprietary data generated by customers to offer credit products and generate revenue where customers can receive and repay credit products through their mobile phones.

Umba CEO Tiernan Kennedy said: “It’s a fantastic opportunity we have been given to bring Umba to the Kenyan market.

“It’s been an extremely challenging and lengthy process to make this acquisition but the ability to stand on our own two feet and grow the bank into a serious player in the market is absolutely worth it.”

The fintech has the backing of leading VC investors, including Lachy Groom, Lux Capital, Palm Drive Capital, and strategic angels such as Monzo founder Tom Blomfield and executives from NuBank.

Chandaria Capital has also invested in the bank and strongly supported the Kenya launch.

READ ALSO  FirstBank Unveils First Humanoid Robot In Nigeria’s Financial Services Space

“Kenya needs a great digital bank to offer the services that customers want, without the massive fees they have been paying to the legacy players.

“The winners here will be who provides the best services and we’re confident in our Team’s ability to deliver,” Kennedy said.

#Digital Bank #Kenya #UMBA Featured
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleTrends That Will Shape Nigeria’s e-Commerce Industry This 2023
Next Article Flutterwave Granted Regulatory Approval To Operate In Egypt
DigitalTimesNG
  • X (Twitter)

Related Posts

AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal

26 September 2025

Access Bank Kenya Confirms Nigeria’s Ralph Chinedu Opara As New MD

11 September 2025

FBNQuest Merchant Bank Facilitates ₦5bn Commercial Paper Programme For Accion MFB

25 August 2025

Access Holdings Reaffirms Financial Strength Amid CBN’s Regulatory Forbearance Directive

19 June 2025

Access Holdings Sets Benchmark In Fraud Prevention With ₦193.5 Billion Tech Investment

19 May 2025

Access Bank Launches DiamondXtra Season 17 With Expanded Rewards And ‘Salary For Life’

14 May 2025

Comments are closed.

Categories
About
About

Digital Times Nigeria (www.digitaltimesng.com) is an online technology publication of Digital Times Media Services.

Facebook X (Twitter) Instagram
Latest Posts

AMCON Sells 34% Stake In Unity Bank To Providus, Strengthening Merger Deal

26 September 2025

Nigerian Airports Go Cashless As FAAN Partners Paystack To Launch Contactless Payments

26 September 2025

‘AI In Nigeria’ Announces InnovateAI Lagos 2026

25 September 2025
Popular Posts

Building Explainable AI (XAI) Dashboards For Non-Technical Stakeholders

2 May 2022

Building Ethical AI Starts With People: How Gabriel Ayodele Is Engineering Trust Through Mentorship

8 January 2024

Gabriel Tosin Ayodele: Leading AI-Powered Innovation In Web3

8 November 2022
© 2025 Digital Times NG.
  • Advert Rate
  • Terms of Use
  • Advertisement
  • Private Policy
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.