According to the Financial Times, the Buy Now, pay later (BNPL) company Lipa Later Group is one of Africa's fastest-growing financial technology (fintech) companies.

The ranking, which is in its second year, highlights different fintechs and underscores the resilience and innovation of the Kenyan fintech industry.

The Financial Times/Statista 2023 annual ranking of Africa’s fastest-growing companies analyse businesses across various sectors, including fintech, renewable energy, healthcare, commodities, and agriculture.

Lipa Later’s Founder and Group CEO, Eric Muli, noted that despite the global economic challenges posed by the Covid-19 pandemic, the company has demonstrated tremendous growth and adaptation, showcasing its ability to thrive even in uncertain times.

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“We are thrilled to be recognised as one of Africa’s fastest-growing fintech companies by the Financial Times,” he said.

Further, Muli noted that the company will continue to leverage technology and their understanding of customer needs to drive financial inclusion and contribute to the growth of the fintech ecosystem in Kenya and beyond.

Lipa Later has capitalised on the accelerated digital transformation witnessed during the pandemic.

To provide financial solutions to consumers by increasing their purchasing power and being an alternative payment option, Lipa Later has not only met the evolving needs of its customers but also expanded its reach and impact.