Bolttech, the global insurtech backed by Hong Kong billionaire Richard Li Tzar-kai, has acquired Kenyan digital insurance platform mTek, marking a strategic expansion into Africa’s growing protection market.
“The global insurtech, today, announced that mTek, a digital insurance platform based in Kenya, has been acquired by the Bolttech Group,” read the Bolttech statement in part.
The deal, announced on December 3, 2025, is aimed at strengthening Bolttech’s presence in East Africa and enhancing its global embedded insurance capabilities.
“This represents an exciting step forward for Bolttech as we expand our footprint in Africa. mTek’s innovative platform and talented team share our vision of using technology to make protection more accessible. Together, we can accelerate digital transformation in insurance and extend the reach of embedded protection across the region,” said Stephan Tan, Chief Executive Officer, EMEA, bolttech.
Under the acquisition, mTek’s leadership team will continue to oversee operations in East Africa, while the platform will be leveraged globally, combining local expertise with Bolttech’s extensive insurance ecosystem.
“mTek’s existing leadership team, led by CEO Bente Krogmann, will continue to oversee operations in East Africa, providing stability and support for customers, partners, and employees during this next phase of growth,” confirmed part of the Bolttech statement.
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“Joining the Bolttech family marks an exciting next chapter for mTek. Our technology, local insight, and commitment to inclusive insurance have transformed how customers access protection in Kenya, and this partnership allows us to scale that impact even further – bringing more innovative and relevant insurance solutions to customers at scale,” Bente Krogmann, Chief Executive Officer, mTek, said.
Hong Kong billionaire Richard Li Tzar-kai
Richard Li Tzar-kai, the younger son of tycoon Li Ka-shing, is a Hong Kong billionaire businessman known for his extensive holdings in telecommunications, insurance, and asset management.
He is the founder and chairman of Pacific Century Group (PCG) and serves as executive chairman of both PCCW Limited and HKT Limited.
Born in Hong Kong, Li holds Canadian citizenship, which facilitated early international business ventures. He briefly attended Stanford University before dropping out to pursue entrepreneurial opportunities. In 1993, he founded PCG using proceeds from the sale of STAR TV.
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Li’s net worth is estimated at $4.5–4.65 billion, placing him among Hong Kong’s top 20 wealthiest individuals.
Li’s Key Business Ventures
- PCCW: Richard Li acquired Cable & Wireless HKT for $38 billion in 2000, the largest takeover in Asia at the time. Under his leadership, PCCW launched now TV, the world’s first major IPTV service.
- FWD Group: Founded in 2013 after acquiring insurance assets from AIG and ING, FWD has expanded across Asia, managing assets worth $30 billion by 2019.
- Other Ventures: Li holds significant investments through PineBridge Investments, HKT’s virtual banking and 5G services, and property development via Pacific Century Premium Developments.
About mTek and Bolttech
mTek is a leading Kenyan-based insurtech reshaping East Africa’s insurance ecosystem through digital innovation.
Established in 2019, mTek provides a fully digital, end-to-end distribution platform that seamlessly integrates General and Life insurance products with both B2C and B2B2C functionality.
The platform empowers more than 350,000 customers in Kenya alone to compare quotes from over 45 insurers and purchase coverage either upfront or through flexible instalment plans.
Bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. It serves customers in 39 markets across Asia, Europe, North America, and Africa.
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