KCB Group Acquires Minority Stake in Pesapal to Boost Digital Payments
KCB Group PLC has announced that it has entered into an agreement to acquire a minority stake in Pesapal Limited, a leading digital payments company licensed by the Central Bank of Kenya (CBK). The deal, signed on October 31, 2025, marks a significant step in KCB’s strategy to expand its footprint in the digital financial services space.
According to the public announcement issued by the bank, the acquisition aims to accelerate the development of innovative payment and fintech solutions targeting Kenya’s small and micro-enterprise sector. By combining KCB’s financial expertise with Pesapal’s technology-driven capabilities, the partnership seeks to enhance value for customers and shareholders alike.
“The investment sets the stage for the development of innovative payment and other related solutions for Kenya’s small and micro enterprises, enhancing value for shareholders of both Pesapal and KCB,” the announcement read.
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Pesapal, which has established itself as a key player in Kenya’s digital payments ecosystem, offers integrated payment solutions that allow consumers and businesses to process transactions seamlessly across multiple channels. The firm is licensed by the Central Bank of Kenya as a Payment Service Provider (PSP).
The acquisition underscores KCB Group’s commitment to deepening its role in Kenya’s digital economy, in line with the growing demand for cashless transactions and financial inclusion. As mobile and online payments continue to surge across Africa, partnerships between traditional banks and fintech firms are becoming increasingly vital in driving innovation and competitiveness.
The transaction is still subject to regulatory approvals, including from the Central Bank of Kenya and other relevant authorities.
