Tesh Mbaabu and Mesongo Sibuti Announce Cloud9, a New Digital Bank for Young Africans
After departing from their roles at Kenyan social commerce platform Chpter, Tesh Mbaabu and Mesongo Sibuti are embarking on a new venture: Cloud9, a digital bank focused on providing a modern and accessible financial experience for young Africans. The platform aims to address the unmet needs of a digitally savvy generation.
Reimagining Banking for Millennials and Gen Z
In a recent announcement, Mbaabu framed Cloud9 as more than just a bank, describing it as “a movement” designed to redefine banking as a vehicle for dignity, belonging, and opportunity. Cloud9 is being developed as a mobile-first platform streamlining payments, savings, credit access, and spending, catering specifically to the fast-paced digital lifestyles of its target demographic. Recognizing that millennials and Gen Z constitute a significant portion of Africa’s population but are often underserved by traditional financial institutions, Mbaabu and Sibuti believe Cloud9 can offer a solution. They contend that conventional banks are too slow, inflexible, and expensive for a generation comfortable with mobile apps, entrepreneurial ventures, and international freelance work.
While Cloud9 is yet to officially launch, it has opened a waitlist for prospective users. The fintech company is being built by a team comprised of former bankers and entrepreneurs, signaling a blend of experience and innovation.
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