Hong Kong billionaire Richard Li has strengthened his presence in Africa through Bolttech’s acquisition of Kenyan digital insurance platform mTek, signalling a major push into East Africa’s fast-expanding insurtech market. The development was first reported by Business Insider Africa, which noted that the deal underscores rising global investor confidence in Kenya’s digital financial services landscape.
mTek, founded in 2019 in Nairobi, operates a fully paperless insurance platform that allows users to compare, purchase, and manage policies online. The company currently serves more than 350,000 customers and works with over 45 insurers, including GA Insurance, Sanlam, and Britam, as highlighted by The Star in its coverage of the acquisition. Bolttech has stated that Nairobi will now serve as its regional hub, positioning Kenya as a central player in its wider African growth strategy.
According to Bolttech’s EMEA CEO, the transaction is a significant step in deepening the company’s footprint across Africa. Local outlet TechArena reported that mTek’s leadership team will remain in place to ensure a smooth transition for users and partners during the integration. FinancialIT also reported that a full rebrand of mTek is planned as the platform becomes part of Bolttech’s global ecosystem.
Industry observers say the deal signals growing momentum in Africa’s insurtech sector and consolidates Richard Li’s long-term interest in digital financial infrastructure across emerging markets.
