Sycamore Founder Warns Fintechs of Hidden Regulatory Costs in Nigerian MFB Acquisitions

The founder of Nigerian fintech Sycamore has warned that acquiring a microfinance bank licence through acquisition can saddle fintechs with costly and opaque regulatory liabilities that outweigh the benefits of obtaining the licence. The caution is directed at the ongoing wave of fintech-to-MFB acquisitions in Nigeria.