KCB Group Plc has received regulatory clearance to take control of Riverbank Solutions Limited, marking one of the most significant bank–fintech transactions in Kenya’s financial sector in recent years.
The Competition Authority of Kenya (CAK) has approved KCB’s acquisition of a 75 per cent stake in the payments technology firm, bringing to a close a review process that began after the deal was announced in March 2025. The decision was published in a gazette notice dated December 19, 2025, and signed by CAK Director-General David Kemei.
The approval, however, comes with strict conditions, particularly on the handling of sensitive customer and merchant data. CAK directed that all third-party data processed through Riverbank’s systems must be fully ring-fenced and kept separate from KCB’s wider operations. The regulator stressed that such data should only be accessed by KCB where it is strictly necessary for the operation of Riverbank Solutions.
To protect existing clients, CAK also ordered that all current customer agreements be maintained. “The merging parties shall ensure that the Target Undertaking honours its current contracts with its customers as per the agreed contractual terms,” the authority stated.
Riverbank Solutions is a homegrown fintech company that develops and operates digital payments infrastructure used by banks, microfinance institutions, retailers, manufacturers and public sector organisations. Its offerings include mobile and card-based payment systems, transaction switching services, point-of-sale solutions and embedded payment devices.
For KCB, the acquisition strengthens a relationship with Riverbank that has spanned more than a decade and signals a strategic shift towards greater ownership of core digital payments infrastructure. The bank has previously said the deal will enhance its digital banking and payments capabilities as competition intensifies within Kenya’s financial services industry.
With CAK’s approval now secured, the transaction has cleared a major regulatory hurdle and is expected to proceed, subject to any remaining approvals from other relevant authorities










