The Central Bank of Kenya (CBK) has officially revoked the operating licence of PayU Kenya Limited, following the company’s decision to enter into liquidation proceedings. The move draws a definitive close to the Prosus-owned payment firm’s attempts to establish a strong foothold in the country’s e-commerce gateway market.
The revocation order, signed by CBK Governor Dr. Kamau Thugge, became effective on October 13, 2025, formally ending the firm’s authorization to provide payment services within the Kenyan jurisdiction. This action was taken shortly after PayU Kenya, a subsidiary of Netherlands-based PayU, initiated liquidation proceedings in August 2025 under Kenya’s Insolvency Act, appointing Sonal Tejpal as the liquidator.
PayU Kenya, which began operations in 2019 through a partnership with Cellulant, offered digital payment gateway services integrating card payments, bank transfers, and mobile money wallets for online merchants. Despite its global backing and regulatory approval, the company struggled to gain significant traction. Reports indicated operational challenges and consistently low transaction volumes in a market overwhelmingly dominated by Safaricom’s M-Pesa and other mobile-based payment systems.
The firm’s exit underscores the significant difficulties faced by foreign fintech companies when attempting to compete against Kenya’s deeply entrenched mobile money ecosystem, which currently processes over 80 percent of the nation’s payment flows.
PayU remains active in other African markets, including Nigeria and South Africa, but its departure from Kenya effectively trims the country’s list of licensed payment service providers.