CBK Strips PayU Kenya of Payment Licence
The CBK has revoked PayU Kenya’s licence after the Prosus-owned payment firm entered liquidation, marking the exit of another global fintech from Kenya...
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The Central Bank of Kenya (CBK) has revoked PayU Kenya Limited's payment operating licence, effective October 13, 2025, following the company's entry into liquidation in August 2025. This decision marks the end of the Prosus-owned firm's efforts to penetrate Kenya's e-commerce gateway market.
- PayU Kenya struggled to gain traction in a market dominated by Safaricom's M-Pesa, despite operating since 2019.
- The revocation was signed by CBK Governor Dr. Kamau Thugge, formally ending PayU Kenya's authorization to provide payment services.
- The company appointed Sonal Tejpal as liquidator under Kenya's Insolvency Act due to operational challenges and low transaction volumes.
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CBK Revokes PayU Kenya's Licence as High Credit Costs and New Lenders Affect SME Financing - October 2025
The Central Bank of Kenya (CBK) has revoked PayU Kenya Limited's payment operating licence, effective October 13, 2025, after the company entered liquidation in August 2025. This move by the CBK marks the end of the firm's efforts to penetrate Kenya's e-commerce gateway market. Concurrently, a recent Central Bank of Kenya survey has shown that Kenyan companies are increasingly relying on internal funds for operations and expansion due to high borrowing costs and strict lending conditions. In this environment, global microfinance group Advans is expanding into East Africa, specifically targeting Kenya. The group plans to support small and medium enterprises (SMEs) with data-driven lending solutions, aiming to bridge the significant financing gap for small businesses.
