Foreign
PayUKenyaExit: CBK Revokes Licence as PayU Shuts Down Operations
PayUKenyaExit: CBK revokes PayU Kenya’s licence after liquidation, while Saviu Ventures champions realistic investing and Moniepoint raises $200M in Series C funding.
PayUKenyaExit has been confirmed as the Central Bank of Kenya (CBK) officially revoked the licence of PayU Kenya, marking the end of the Prosus-owned payment firm’s short-lived presence in the country’s competitive eCommerce payment market. The revocation, signed by CBK Governor Dr. Kamau Thugge, took effect on October 13, 2025, just days after the company went into liquidation.
PayU, a subsidiary of Netherlands-based PayU Group, entered the Kenyan market in 2019 through a partnership with African payments firm Cellulant. The company had promised to simplify online payments by connecting merchants to card payments, bank transfers, and mobile money wallets on a single platform.
However, Kenya’s payment ecosystem proved challenging to penetrate, with Safaricom’s M-PESA dominating over 90% of mobile transactions. Despite its global experience and financial backing, PayU struggled to attract merchants and compete with established local players. By August 2025, the company entered liquidation, citing low transaction volumes and high operational costs.
Following its liquidation notice, PayU formally informed the CBK of its intention to shut down and surrender its licence. The regulator’s revocation aligns with Kenya’s ongoing efforts to tighten oversight under the National Payment System Regulations, which have increased compliance demands, particularly for foreign fintechs navigating the country’s complex regulatory environment.
PayU’s exit reduces Kenya’s list of active payment service providers, leaving key players such as Pesapal, Cellulant, Flutterwave, and Airtel Money. The development underscores the challenges international fintechs face in markets where mobile money is deeply ingrained in everyday life and consumer culture.
Saviu Ventures: Betting on Realism, Not Unicorns
For Saviu Ventures, success in African venture capital comes down to realism. Unlike many funds that expect most of their portfolio to fail, Saviu aims for the opposite. The firm works closely with founders and keeps the idea of an exit front and centre from day one.
As Papa Mady Sidibé, Head of Portfolio Management, explains: “We don’t know who the buyer will be or when the exit will happen, but it’s something we all keep in view from the start.” It’s a grounded approach in an industry often driven by hype — and perhaps the kind of discipline African venture capital needs right now.
The $40 million fund, launched in 2018, focuses mainly on Francophone Africa and has backed 21 startups, including Lapaire, Kamtar, and Julaya. Instead of chasing billion-dollar valuations, Saviu prefers smaller, quicker wins, with exits planned within three to five years. The strategy is paying off — the firm has achieved four exits in the past two years, including a full exit from Lapaire and a partial one from logistics startup Kamtar.
Moniepoint’s Series C Round Climbs to $200 Million
Moniepoint has raised an additional $90 million in fresh funding as part of its ongoing Series C round, bringing the total to $200 million. The round was led by Development Partners International (DPI), with participation from the International Finance Corporation (IFC), Leapfrog Investments, Google’s Africa Investment Fund, and Visa.
The new funding underscores global investor confidence in Moniepoint’s growth trajectory. CEO Tosin Eniolorunda reaffirmed the company’s commitment to expansion, saying, “We will not rest on our laurels,” as the fintech plans to scale operations and deepen its impact across markets.
Visa’s participation highlights its growing interest in Africa’s fintech ecosystem. The payments giant has been strengthening partnerships with leading players such as Interswitch, Paystack, and Flutterwave, while also launching its own accelerator program to support emerging innovators across the continent.
While Moniepoint did not disclose its new valuation, insiders confirm it remains well above unicorn status — a title it first achieved in 2024. The company, which began as a software provider for Nigerian banks, has since evolved into a fintech powerhouse with over 10 million customers and more than $250 billion in annual transaction volume.
Despite reporting a $1.2 million loss linked to early spending on its UK expansion, Moniepoint remains profitable overall and is positioning itself for a stronger global presence. With a fresh $200 million war chest and backing from major international investors, the company is gearing up for its next phase of growth.
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