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[QUOTE="Queen, post: 85406, member: 27"]
Football boss turned fintech winner just cashed out big after a bank regulator waved a deal through.

Deal approval rundown
[LIST]
[*]Nick Mwendwa sold most of his company.
[*]KCB Group grabbed control.
[*]Stake sold stands at 75 percent.
[*]Insiders whisper a multibillion-shilling valuation.
[/LIST]
Regulator strings attached
[LIST]
[*]The Competition Authority of Kenya cleared the transaction.
[*]Existing client contracts stay untouched.
[*]Customer and merchant data must stay sealed.
[*]Bank access is limited strictly to fintech operations.
[/LIST]
Company background
[LIST]
[*]Riverbank Solutions was launched 15 years ago.
[*]Core work centers on public revenue systems.
[*]Counties like Kisumu and Migori used their tech.
[*]Other clients span banking, retail, and defense.
[/LIST]
Mwendwa backstory
[LIST]
[*]Previously ran the Football Kenya Federation.
[*]Pivoted from sports politics to payments infrastructure.
[*]Exit sets him up among Kenya’s ultra-wealthy.
[/LIST]
[/QUOTE]

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