Landmark ruling on unequal pay puts Kenyan startups, SMEs on notice
Kenya's Employment and Labour Court declared that paying different salaries for the same role is unlawful. Tom Oduor was awarded $30,000 for discriminatory pay and unfair dismissal by Dawa Life Sciences.
Digital bank Umba raises $5 million to grow vehicle and SME lending in Kenya
Umba raised a $5 million debt facility to grow its secured lending operations in Kenya. The funding will target vehicle financing and small and medium enterprises (SME) loans.
Nigerian digital bank FairMoney in talks to buy Umba in $20M all-stock deal, sources say
FairMoney is in discussions to acquire Umba in a $20 million all-stock deal. The potential acquisition would allow FairMoney to expand into Kenya.
