Connect with us

Business News

American Kuramo Capital To Buy 12% of Pezesha



Kuramo Capital has shown major interest in Pezesha African LTD, and intends to buy a 12 per cent stake in the Kenyan digital micro lender.

The American private equity firm was one of the seed investors that gave lifeline to Pezesha in August through its Consonance Kuramo Special Opportunities Fund I.

Founded in 2016, Pezesha has carved a niche for itself as a value-chain financial marketplace that is designed to financially educate borrowers, as well as walk them through a seamless credit-scoring process, that ultimately qualifies them for loans.

Using data analytics, the online micro lender matches lenders with credit worthy low-income micro businesses and provided them access to credit.

Competition Authority of Kenya Director General Wang’ombe Kariuki noted that the acquisition programme will not affect competition negatively.

“The acquirers’ turnover for the preceding year (2017) was Ksh6.1 million while the target’s turnover was Ksh3.1 million.The transaction meets the threshold for exclusion under the merger threshold guidelines,” he advised.


Source link