KCB Group Plc has announced the acquisition of a minority stake in Pesapal Limited, a leading Kenyan digital payments company, marking a significant step in the bank’s strategy to expand its presence in the fast-growing financial technology sector.
In a statement issued on Friday, the lender confirmed that the deal, signed on 31 October 2025, positions KCB to strengthen its role in the digital payments landscape while fostering innovative financial solutions tailored for small and micro enterprises across Kenya and the region.
Pesapal, a limited liability company licensed by the Central Bank of Kenya (CBK) as a payment service provider, operates a suite of digital solutions that enable businesses to accept and process payments online and in-store. The company’s technology has been instrumental in connecting merchants, consumers, and financial institutions through integrated payment platforms.
“This investment sets the stage for development of innovative payment and other related solutions for Kenya’s small and micro enterprises,” KCB said in a statement signed by its Group General Counsel and Company Secretary, Bonnie Okumu. “It enhances value for shareholders of both Pesapal and KCB.”
The acquisition signals KCB’s growing interest in the fintech sector, which has rapidly evolved into one of Kenya’s most dynamic industries. Kenya’s digital payment market, led by mobile money platforms such as M-Pesa and a rising number of payment gateway providers, has seen significant innovation as more businesses transition to cashless systems.
While KCB did not disclose the financial details of the transaction, the bank emphasized that the investment is part of its broader commitment to building a robust digital ecosystem that aligns with its “For People. For Better.” strategy.
According to the statement, the transaction is subject to customary conditions, including receipt of regulatory approvals from the Central Bank of Kenya. The Capital Markets Authority (CMA) has already approved the public disclosure of the acquisition.
The bank noted that completion of the deal will depend on compliance with all relevant regulatory requirements, underscoring its commitment to maintaining transparency and governance standards in all corporate actions.
KCB Group, one of East Africa’s largest financial institutions, has in recent years accelerated its digital transformation drive. The bank’s strategy includes partnerships, acquisitions, and internal technology innovation aimed at offering seamless digital banking experiences.
KCB Group recently completed two major transactions as part of its effort to strengthen its digital and regional growth strategy. The bank sold its entire 100% stake in National Bank of Kenya (NBK) to Access Bank Plc, a Nigerian-based financial group. The sale was a strategic move aimed at streamlining KCB’s operations and focusing more on digital transformation and innovation.
At the same time, KCB acquired a 75% stake in Riverbank Solutions Limited, a fast-growing Kenyan fintech firm known for providing payment technology and digital transaction solutions. The acquisition is designed to boost KCB’s digital payments ecosystem, helping the bank improve efficiency, expand customer access to digital services, and strengthen its position in the rapidly evolving fintech space.
Together, these moves highlight KCB’s shift towards becoming a more technology-driven financial institution, focused on delivering modern, seamless, and innovative banking experiences across the region.
Pesapal’s inclusion under KCB’s investment portfolio could further enhance its credibility in the payments industry, where trust and regulatory compliance are key differentiators.
The acquisition of Pesapal comes at a time when financial institutions across Africa are redefining their business models to align with digital-first consumer behavior. KCB has already rolled out several digital solutions, including mobile lending, online banking, and integrated business payment platforms.
By joining forces with Pesapal, KCB aims to tap into advanced payment technologies that can enhance transaction efficiency, security, and convenience for both individual and corporate clients.
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