KCB Group acquires minority stake in Pesapal
The investment sets the stage for the development of innovative payment and other related solutions for Kenya’s small and micro enterprises.
Kenya.- KCB Group PLC, Kenya’s largest bank by assets, has agreed to buy a minority stake in Pesapal Limited, a key player in East Africa’s digital payments landscape. The deal, signed on October 31, 2025, positions KCB to handle more transactions for everyday users, from small shop owners to online bettors placing wagers on football matches.
Pesapal, founded in 2009, processes more than 12 million transactions each month across Kenya, Uganda and Tanzania, linking mobile wallets like M-Pesa to cards and bank transfers. According to Agosta Luvai, Pesapal’s Co-founder and CEO, the investment provides an opportunity for the firm to serve more merchants and customers with reliable tools.
In a statement announcing the deal, KCB said: “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 acquisition follows KCB’s similar investment in Riverbank Solutions earlier this year, where it acquired a 75 per cent share for 2 billion Kenyan shillings (€14.6m). According to the group, these partnerships align with the group’s plan to develop digital capabilities and provide customers with “seamless, secure and innovative” solutions.
Neither KCB nor Pesapal has disclosed the stake size or financial details of the agreement, which is pending approval from the Competition Authority of Kenya and the Central Bank of Kenya.
