Leading global fintech Unlimit has received its Central Bank of Kenya licence, allowing the London-based company to operate in the African nation.
This strategic move follows Unlimit’s recent acquisition of the Central Bank of Nigeria licence, further strengthening the company’s standing in the region. Unlimit is an award-winning global all-in-one fintech offering advanced payment capabilities through an evolving financial interface to startups and businesses across the globe with 16 offices across five continents.
As part of its strategic expansion, Unlimit is committed to delivering an unparalleled payment experience by integrating internationally acclaimed payment best practices, industry-leading security protocols, comprehensive merchant analytics, and a customer-friendly interface. By offering diverse payment solutions, Unlimit will cater to the preferences and support the unique requirements of local enterprises in Kenya.
According to figures from the British Government, in 2022 the total value of imports and exports between Kenya and the UK was £1.2 billion. The demand for fintech solutions when it comes to payments within Kenya has also seen a rise, with figures from Statista showing that the number of people using digital payment methods is expected to amount to 39.14 million by 2027. By expanding its operations to Kenya, Unlimit strengthens its position in the continent’s payment landscape as part of its mission to lead Africa’s payment evolution in the coming years.
Commenting on the Kenya licence acquisition, Trevor Goott, Director for Africa and India at Unlimit, said: "It gives me great pleasure to bring Kenya on board as our second African country, following the recent announcement of the Nigerian licence acquisition. We are also pleased to add Kenya to our global portfolio for our foreign merchants seeking access to the Kenyan market. The high demand from our international merchants to establish local operations in the country has further motivated us to enter the market. Given its strategic location in East Africa, Kenya serves as an ideal hub for the expansion of our operations in the region."
Speaking about the expansion, Unlimit’s CEO, Kirill Evstratov, added: "We have ambitious plans for Kenya and East Africa, and are looking forward to supporting local businesses on their expansion goals. For 14 years we have successfully been aiding companies worldwide to enter new markets and go beyond borders, strengthening their business outreach, and expanding their customer base. Now, we are bringing those years of expertise to Africa. Our unwavering ambition is to establish ourselves as the benchmark in the payments processing industry, setting the standard for excellence and innovation, and allowing companies around the globe to go borderless with their payments.”