KCB Group to Acquire Stake in Fintech Firm Pesapal, Marking Second Major Fintech Investment in 8 Months
KCB Group Plc has announced that it has signed a deal to acquire a minority stake in Pesapal Limited, a leading Kenyan digital payment gateway.
The deal, announced on Monday, marks KCB’s second significant fintech acquisition in just eight months, signalling a deepening of its strategy to expand beyond traditional banking and build a formidable presence in the region’s high-growth digital payments sector.
This latest move follows KCB’s acquisition of a 75.0% controlling stake in Riverbank Solutions Limited, another Kenyan fintech, which was finalized in March 2025.
At the time of the Riverbank acquisition, KCB Group CEO Paul Russo stated the investment was part of a plan to actualize new digital capabilities and deliver seamless, secure, and innovative solutions for customers.
“We are actualizing new digital capabilities to deliver customer-centred value propositions through technology to guarantee seamless, reliable, secure, and innovative solutions for our customers. Across the region, payments are expected to have the fastest growth, suggesting an opportunity to innovate. That’s why we have made this strategic acquisition to enable us offer a full stack of solutions. This is a great opportunity to maximize value for our shareholders in the long term while strengthening the competitive position for the Group,” said KCB Group CEO Paul Russo.
The two acquisitions highlight KCB’s deliberate shift towards a platform-based financial services model. By investing in Pesapal, KCB gains a foothold in one of East Africa’s most established payment service providers. Founded in 2009, Pesapal provides online, mobile, and in-store point-of-sale (POS) solutions for thousands of merchants across Kenya, Uganda, and Tanzania.
In a statement released Monday, KCB said the investment in Pesapal “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 acquisition of the Pesapal stake is subject to customary closing conditions, including regulatory approval from the Central Bank of Kenya (CBK).
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