The Zenka Mobile Loan App is one of the popular mobile lenders in Kenya, offering instant short-term credit to a diverse group of borrowers.
Founded in 2018, Zenka boasts over 10 million customers in Kenya, rivaling Tala and Branch platforms which have dominated the market for years.
Zenka’s success story cannot be told without mentioning Robert Masinde, the co-founder, who has heavily invested in the tech industry. Masinde is also the founder of Micro Mobile Ltd and co-founder of Mtaji Technologies.
Born and raised in Western Kenya, Masinde attended the prestigious Starehe Boys Centre for his secondary education.
He joined the University of Nairobi, graduating with a Bachelor of Commerce Degree in Finance. He later proceeded to the prestigious Oxford University in the United Kingdom for a Master’s in business administration.
He has over the years served in various capacities in the Finance sector and has worked with some of the leading banking institutions including CitiBank, Stanbic Bank and Standard Bank of South Africa.
He started his career at Citi Bank in 1997, climbing the ranks from a Management Associate, Trade Operations Head, Branch Operations Head, to Head of Trade Finance.
In 2004, he joined Stanbic Bank where he served until 2011. Masinde worked as Director and Global Head, Payment Product Management at Standard Bank South Africa from 2011 to 2013.
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After exiting the banking sector, Masinde ventured into the world of mobile lending. He established Micro Mobile Ltd, where he served as Chief Executive Officer (CEO) from May 2013 to September 2018.
In 2018, he partnered with his foreign friend Lucas Notopolous to launch Zenka, which has grown to become a household name in the Kenya’s digital lending sector.
Masinde served as CEO of Zenka Digital between January and December 2019. The company’s main goal was to provide personal flexible loan services from Sh500 up to Sh20,000.
Other Roles
Masinde was among the founders of Digital Lenders Association in Kenya (DLAK). The association which was founded on June 6, 2019 consists of digital-first lenders and other stakeholders who represent and promote the common interest of digital lenders, consumers and the digital lending industry.
The association was founded with 12 companies including Zenka Finance, Tala, Alternative Circle, Kuwazo Capital, MyCredit, Okolea, LPesa, Kopacent, Finance Plan Limited and Mobile Financial Solutions (MFS).
Masinde has also held other senior government roles. He has served as the Chairperson of the Digital Finance Committee under the Ministry of ICT from June 2019 to March 2022.
He was also a Senior Consultant at the International Finance Corporation, World Bank. He currently serves as a Senior Consultant at Equity Bank Limited and is a member of the Kenya Private Sector Alliance (KEPSA).
