Editor's Review

 KCB Group PLC has entered into an agreement to acquire a minority stake in Pesapal Limited.

The KCB Group PLC has announced it has entered into an agreement to acquire a minority stake in online payment platform, Pesapal Limited.

In a statement dated October 31, 2025, KCB said the investment aims to foster innovation in digital payment solutions and strengthen support for Kenya’s small and micro enterprises.

“We are delighted to inform our shareholders and the investing public that KCB Group Plc (KCB) has, on 31 October 2025, entered into an agreement to acquire a minority stake in Pesapal Limited (Pesapal). Pesapal is a limited liability company licensed by the Central Bank of Kenya as a payment service provider.

“The investment sets the stage for development of innovative payment and other related solutions for Kenya’s small and micro enterprises, enhancing value for shareholders of both Pesapal and KCB,” read part of the statement.

However, KCB said the investment in Pesapal is subject to approval by the Central Bank of Kenya (CBK).

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File image of a KCB bank. 

“The investment is subject to conditions that are customary to transactions of this nature, including receipt of regulatory approvals from the Central Bank of Kenya,” KCB added.

Pesapal is one of the most established digital payment service companies in East Africa, enabling businesses to accept mobile money, card, and online payments through platforms such as M-Pesa, Visa, Mastercard, and American Express.

Pesapal operates in Kenya, Uganda, Tanzania, Malawi, Rwanda, and Zambia.

This comes months after KCB acquired a 75 percent stake in Riverbank Solutions.

In a statement on March 24, 2025, KCB said the acquisition of the IT firm aligns with its strategy to enhance payment solutions and deliver greater value to its customers.

“Riverbank is a financial service technology company that primarily develops and deploys payment solutions. Having worked closely with them for the last 12 years, we are confident that they are an excellent fit for our business and will add significant value to the Group,” KCB stated.

Riverbank, which has a presence in Kenya, Uganda, and Rwanda, specializes in payment technology solutions for banking, micro-finance, retail, and manufacturing.

It also offers the swipe platform for agency banking services, Zizi for revenue collection, and Checksmart for social payments.