Bonto Kenya, a Nairobi-based remittance fintech, is shutting down two years after launching, and less than eight months after securing a licence from the Central Bank of Kenya (CBK). “It is notified for the information of the general public that pursuant to Regulation 44 (2) of the money remittance regulations 2013, the Central Bank of Kenya has revoked the license of Bonto Kenya Money Transfer Limited,” CBK governor Kamau Thugge wrote in a notice. Unlike older money remittance providers (MRPs) that can lean on legacy clients, Bonto was “trying to build in the desert.”“FX margins collapsed, breakeven scale became unrealistic,” Copreaux said. Bonto considered selling its licence, reaching out to more than 50 fintechs and securing five offers. The team behind Bonto will now wind down operations fully, with Copreaux hinting at a reset before pursuing new ventures.