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A Kenyan fintech has gone from helping people buy phones and appliances in instalments to having two of its directors arrested over an alleged KSh 31.2 million (about $242,000) theft. On September 2, 2026, per TechCabal, detectives from Kenya’s Directorate of Criminal Investigations (DCI) arrested Martin Kariuki Maina and Johnson Gituma Mwangi, directors of Flexitech Group, in Nairobi’s Roysambu area.
The arrests followed a complaint from a major retail chain, which alleges that money collected from customers through the company was not remitted. According to the DCI, the two directors were acting as agents for the retailer and had received KSh 31,213,700.95 from customers who had bought and collected products from different branches. Investigators allege that, together with other suspects who are still at large, the money was diverted for their own use.
The two are being processed ahead of arraignment at the Milimani Law Courts, where they are expected to face charges of stealing by agent. Importantly, these are allegations at this stage, not convictions. If you’re wondering why this matters, FlexPay isn’t some random payment app sitting on the sidelines of retail. The company built its business around helping consumers pay for products gradually rather than coughing up the full amount upfront.
Its model has evolved into what it calls “Save Now, Buy Later”, where customers save towards products through merchants rather than taking on interest-bearing credit. Its current terms say Flexpay handles payment processing, reconciliation, record-keeping and customer savings balances,