PayU Kenya Ltd., the local subsidiary of the Dutch-owned global payments company PayU, has entered liquidation just six years after its high-profile launch in East Africa. The company has appointed Sonal Tejpal as the liquidator to formally initiate the wind-up of its operations, as per Kenya’s Insolvency Act.
PayU debuted in Nairobi in February 2019, having received approval from the Central Bank of Kenya, with plans to use the hub as a gateway into neighboring Tanzania, Uganda, and Rwanda. The company aimed to leverage the region’s mobile money dominance by partnering with pan-African payments processor Cellulant, integrating PayU into M-PESA and other local wallet systems.