Bonto halts Kenyan money transfer operations
NAIROBI, Kenya, Sept 4 -Â Bonto Kenya Money Transfer Limited has suspended its money remittance operations in the country. In a statement to customers, the Kenya breaking news | Kenya news today |..
✨ Key Highlights
Bonto Kenya Money Transfer Limited has suspended its money remittance operations, stopping transactions on August 15, 2025. The company cited mounting market and operational pressures, including narrow margins and rising expenses, as reasons for winding down operations, pending Central Bank of Kenya approvals.
- Bonto Kenya Money Transfer Limited will surrender its license to the Central Bank of Kenya.
- The firm stopped processing transactions on August 15, 2025, at 18:00 EAT.
- Kenya’s remittance inflows reached $5.77 billion in 2024, according to CBK data, despite increasing competition in the sector.
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Financial Sector Moves in Kenya: IXAfrica Secures Funding, Bonto Halts Operations, Hustler Fund Appoints New CEO - September 2025
Kenya's financial and corporate landscape has seen several significant events. IXAfrica Data Centre secured up to US$200 million in debt financing from Rand Merchant Bank (RMB) to expand its Nairobi campus for hyperscale and AI workloads. In contrast, Bonto Kenya Money Transfer Limited has suspended its money remittance operations as of August 15, 2025. The company cited mounting market and operational pressures, including narrow margins and rising expenses, as it seeks Central Bank of Kenya approval to wind down. Separately, the Kenyan government has appointed Mr. Tanui as the new CEO of the Hustler Fund. Taking over from Elizabeth Nkukuu, Tanui, a veteran with over 24 years in financial services, will aim to optimize the fund's collection processes.
