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Microlender seeks offshore clients

Sumac Microfinance Bank workers. [Photo/Courtesy]

Sumac Microfinance Bank is now targeting online offshore banking, as it looks for an expansion strategy to grow its loan book.

The local micro-finance lender has sold 15 per cent stake to Ricardo Badoer of Badoer Investment Ltd for Sh100 million, hoping to cash in on the businessman’s offshore portfolio and digital experience.

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