SMEP Microfinance Bank is set to have its Lipa na M-Pesa transactions subjected to a rigorous forensic audit, covering digital payments, systems, and controls spanning a period from January 2019 to June 2025.
This critical review, a proposal for which has been sighted by Capital Business, targets the integrity and security of the bank’s mobile money operations.
The initiative has been launched by Hope International, the U.S.-based, faith-driven non-profit that holds a majority stake in SMEP.
The organization is actively soliciting bids from qualified firms and consultants with robust international experience in auditing mobile money platforms to undertake this assignment.
Hope International has laid out stringent criteria for interested consultants.
They must demonstrate specialized expertise in digital transaction environments, possess cutting-edge data analysis capabilities, and must hold certification from Kenya’s Office of the Data Protection Commissioner (ODPC), underscoring the sensitivity of the data they will handle.
This comprehensive, one-month audit commences approximately a year after Hope Advancement Inc., a subsidiary of Hope International, completed the acquisition of a 51 percent stake in SMEP Microfinance Bank for a consideration of about Sh586 million.
