Kenyan BNPL startup Wabeh halts operations as defaults rise, cash flow tightens

Wabeh, a Kenyan buy-now-pay-later (BNPL) provider, paused operations with its vendor network in July, citing the need to “simplify its operational model.” The move follows growing claims of customer defaults, cash flow strain, and the lack of regulatory approval from the Central Bank of Kenya (CBK).

Founded to simplify smartphone ownership through flexible instalment plans, Wabeh’s…