Kenya’s bitcoin remittance company has led this year’s dealmakers acquiring online money transfer platform TransfferZero that specializes in sending money to consumers and companies in 200 countries using over 50 different currencies.
The firm in which ICT CS Joe Mucheru held stake until recently may have turned the corner since its troubles with Safaricom over its cryptocurrency deal after its payments gateway partner mobile payments Lipisha had its account suspended by the telco.
CS Mucheru who had been fingered for holding stake in the firm thereby in line for conflict of interest this year appointed an 11 member team led by Dr. Bitange Ndemo to explore blockchain technology and artificial intelligence AI a further boost for the company’s prospects.
The blockchain payments platform announced their acquisition of TransferZero, an international,. TransferZero is the first FinTech company licensed by the Bank of Spain as an authorized payment institution and was founded in May 2016.
They are the only remittance company that does not charge a fee, aside from a small percentage in the FX.
US firm Kuramo Capital has also paced up its space in the Kenyan market with an acquisition of minority stake in Kenyan investment bank Sterling Capital for an undisclosed amount.
The acquisition follows the reinstatement of Sterling’s investment banking license in October 2017, after it was downgraded to stockbroker level in 2011 after it failed to meet CMA’s revised minimum capital limit for market players.
Kuramo’s portfolio now includes stake in Kibaki era investment firm TransCentury and Century Developments Ltd Group.
This year UK firm Actis has ceded majority stake in MML to Turner & Townsend subsequently renaming the firm to MML Turner & Townsend that will operate across the real estate, infrastructure and natural resource industries.
Turner & Townsend’s existing team will join MML’s Nairobi operation, as a combined team of over 40 experts, delivering a range of services including advisory, programme management, project management and cost management.