Global insurtech bolttech said it has entered the Kenyan market through a partnership with LOOP, the digital banking service of NCBA Bank, marking its latest expansion in Africa.
The partnership will introduce LOOP Flex Device Financing (LOOP Flex) in October, a product combining flexible device financing with embedded protection.
The programme is aimed at making smartphones and other devices more affordable while providing coverage against theft, accidental and liquid damage, mechanical breakdown, and extended warranty.
Repairs will be handled at certified service centres with genuine parts, the companies said, per the announcement.
Kenya, one of the continent’s fastest-growing digital economies, has become a key target for fintech and insurtech players seeking to expand access to financial and protection products.
“We are delighted to welcome bolttech to Kenya and to partner with a global leader in embedded protection,” said Eric Muriuki, chief executive of LOOP DFS. He added:
This partnership enables us to make high-quality devices more affordable while giving our customers the peace of mind that comes with comprehensive protection.
Stephan Tan, bolttech’s CEO for EMEA and group chief investment officer, said the tie-up would integrate insurance into the device ownership process.
“Together, we are embedding protection into the device ownership journey, enabling more people to afford and safeguard the technology they rely on every day,” he said.
LOOP DFS, fully owned by NCBA Group, operates across six markets in East and West Africa with more than 60 million customers. It first launched mobile lending and savings services in 2012.
Bolttech, which operates in 37 markets worldwide, is building a digital ecosystem to connect insurers, distributors and customers.
The company said its entry into Kenya is part of a broader strategy to deepen its presence in Africa’s digital financial services sector.
