Power Financial Wellness Strengthens its Kenyan Board with Strategic Appointments
Power Financial Wellness, a Kenyan fintech company dedicated to enhancing financial health across Africa, has announced the appointment of three distinguished professionals to its Board of Directors in Kenya. This strategic move aligns with the company's mission to be the premier platform providing affordable and appropriate financial services to Africa’s workforce.
Founded in 2020 by Brian Dempsey, and Chandramanshu Singh , Power Financial Wellness has developed and pioneered a fully digitised Workplace Banking Platform that connects workers to earned wage access, salary advances, savings and investment options, affordable loans, and insurance solutions. Developing the entire solution in-house and backed by some of the world’s best venture investors, including QED, Quona, and Norrsken, Power licenses its platform to regulated banks and lenders, SACCOs, and HR platforms that are looking to embed financial services. The solution can be used to service workers across all sectors, including government, private, casual labour, and the gig economy.
By integrating these services into a single platform, Power’s vision is to enable workers to reduce financial-related stress, employers to improve productivity, and our partners to drive customer acquisition, balance sheet growth, and revenue enhancement.
Kezie Karuoro-Kihara | HR Director/Executive
Kezie Karuoro-Kihara, one of the newly appointed board members, highlights the link between financial wellness and employee performance. “When employees are stressed about their finances, it affects their focus, productivity, and even their decision to stay in a job,” she said.
“A financially secure workforce is more engaged, more present, and ultimately more loyal.” Kezie’s background in HR leadership positions at BAT, PwC, Novo Nordisk, SGS, and PVH will play a crucial role in guiding Power’s efforts to create financial solutions that directly address employees’ needs.
Rebecca Mbithi, Thought Leader in Financial Services
The company’s digital-first approach comes at a time when Kenya’s financial landscape is rapidly evolving. Rebecca Mbithi, the former CEO of Family Bank and a thought leader in financial services in Kenya, will also be joining the Board and believes Power is well-positioned to drive a shift towards financial empowerment.
“In the last five years, Kenya has established itself as a leader in digital financial services. While the demand for seamless, digital-first solutions has never been higher, Power is building with the financial health of the customer in mind as well,” she noted. “Power’s timing is perfect, customers aspire to improve their quality of living, and the Power system is enabling this in Kenya and beyond.”
Scaling fintech solutions in such a dynamic environment requires more than just technology; it calls for strong partnerships. “You don’t have to reinvent the wheel every time,” Mbithi added. “The opportunity lies in harnessing existing ecosystems and collaborating with industry players to expand reach and impact.”
Carol Kamau-Mulwa | Thought Leader in Impact Investing in Africa
“Financial inclusion for low-income earners is crucial, but we are now moving toward financial health. Beyond credit, people need access to savings, investments, and insurance through an all-in-one seamless digital platform.
Fintech innovations from Africa show that scalable, accessible solutions can improve financial well-being," said Carol.
Finally, Caroline Kamau-Mulwa , a seasoned leader in impact investing, brings to the Board her extensive experience in commercial and values-based financial services. Her insights into financial empowerment align with Power’s goal of making financial services more affordable, appropriate, and accessible to underserved populations.
Dempsey sees these appointments as a critical step in Power’s growth. “Our vision has always been to create financial solutions that make a real difference in our customers’ lives. With the expertise that Kezie, Rebecca, and Carol bring, we are well-positioned to scale our impact and drive financial wellness for workers across Kenya and all of Africa.
As financial stress continues to be a major concern for many employees, companies are increasingly recognising the importance of providing comprehensive financial support. A stable financial foundation not only improves individual well-being but also boosts company performance. By tackling these challenges through a tech-driven, inclusive approach, Power Financial Wellness is positioned to become a leading player in the fintech space, helping more individuals take charge of their financial future.
About Power
Founded in 2020, Power is now the leader in advances, loans, investments, and insurance for workers in Kenya. More recently, they have expanded into Uganda, Rwanda, and Zambia, with launches in the DRC and Tanzania forthcoming. They are set to be the premier platform for Workplace Banking on the continent by leveraging their technology to help existing banks and lenders digitise their offering. With offices in the USA, Kenya, Uganda, Tanzania, and India, this Kenyan startup is bringing workplace wellness to the entire continent.