The founder and CEO of Bonto Kenya, who announced the company's shutdown and discussed the challenges faced by the fintech.
Why Kenyan remittance startup Bonto is shutting down after two years
Bonto Kenya ceased processing transactions on August 15 and requested the revocation of its license from the Central Bank of Kenya. The Central Bank of Kenya confirmed the revocation of Bonto's license, highlighting regulatory challenges for fintechs in the country.
Kenya’s Bonto shuts down six months after getting its CBK licence
Bonto Kenya ceased operations on August 15 and requested the revocation of its license from the Central Bank of Kenya. The company received its Money Remittance Provider license in early 2025, aiming to enter a $5.7 billion market.
