Published by the FinTech Association of Kenya
PRECURSORSubscribe

Analysis

Stories that begin with something visible and ask what larger system is quietly being revealed.

The dollar debt trap on a shilling loan book.
Independent

The dollar debt trap on a shilling loan book.

A decade of celebrated offshore raises taught African lenders a brutal lesson in currency gravity: borrow in dollars, lend in shillings, and one devaluation erases five years of growth. The fix is structural: local-currency funding. The discipline extends to acquisitions.

Investor Corner · 10 Nov 2026 · 4 min read

Stop buying users you will never keep.
Practitioner view

Stop buying users you will never keep.

The zero-rate decade taught African consumer fintech to buy growth with free hardware and referral bonuses. The arbitrage syndicates said thank you. The survivors of the funding winter now sell infrastructure to businesses instead of subsidies to tourists.

Investor Corner · 10 Nov 2026 · 4 min read

A licence is not a business model.
Independent

A licence is not a business model.

The funding winter pushed fintechs toward a tempting shortcut: buy a struggling microfinance bank, inherit the deposit licence, skip the queue. But a licence purchase is a balance-sheet purchase, and Kenya's microfinance sector is a public ledger of how expensive that parchment can be.

Investor Corner · 10 Nov 2026 · 5 min read