Kopo Kopo, a Kenyan fintech startup known for providing short-term business loans, has appointed Dennis Ondeng as its new CEO. This leadership change comes amid ongoing acquisition talks with Nigerian neobank Moniepoint Inc., which received approval from Kenya’s competition authority for the acquisition 13 months ago.
The change also involves the appointment of;
- Chad Larson will assume the position of Chief Financial Officer (CFO), contributing his financial expertise to the company’s operations.
- Kibet Yegon will continue in his role as Chief Technology Officer (CTO), leading the company’s technological strategies and innovations.
- Rosemary Muyeshi has been appointed as Chief Risk Officer (CRO), responsible for managing and mitigating business risks.
Kopo Kopo expressed confidence in its new leadership team to enhance its mission and continue delivering effective solutions for businesses in Kenya.
“We are confident that this dynamic leadership team will further Kopo Kopo’s mission and continue to deliver solutions for businesses in Kenya” Kopo Kopo said in a statement.
Despite the management changes, Moniepoint confirmed to Tech Cabal that the acquisition process is still ongoing but has not yet been finalized. Kopo Kopo has reported profitability since its $2.1 million Series B funding round in 2015 and currently holds a valuation in the low tens of millions. If the acquisition is completed, it would enable Moniepoint to expand its footprint in the Kenyan market.
