Kenya Commercial Bank (KCB) Group has officially announced its acquisition of a minority stake in Pesapal Limited, a leading digital payments service provider licensed by the Central Bank of Kenya (CBK).
In a public statement dated October 31, 2025, KCB revealed that the move marks a strategic investment aimed at driving innovation in Kenya’s financial technology ecosystem, particularly among small and micro enterprises.
“We are delighted to inform our shareholders and the investing public that KCB Group Plc has entered into an agreement to acquire a minority stake in Pesapal Limited,” read the notice signed by Bonnie Okumu, KCB’s Group General Counsel and Company Secretary.
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Pesapal, a pioneer in online and in-store payment solutions across East Africa, operates as a CBK-licensed Payment Service Provider (PSP). The partnership is expected to strengthen KCB’s position in the fast-growing digital payments space and enhance its service delivery to merchants and individuals.
KCB noted that the acquisition will pave the way for innovative financial and payment solutions, empowering Kenya’s small and medium-sized businesses (SMEs) while creating new value for shareholders of both companies.
The transaction, however, remains subject to regulatory approvals, including clearance from the Central Bank of Kenya.
“The investment sets the stage for the development of innovative payment and related solutions for Kenya’s small and micro enterprises… The investment is subject to conditions customary to such transactions, including receipt of regulatory approvals from the Central Bank of Kenya,” the statement added.
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The announcement was made with the approval of the Capital Markets Authority (CMA). KCB Capital Limited acted as the transaction adviser, while IKM Advocates, a member of DLA Piper Africa, served as the legal adviser for the deal.
This move signals KCB’s continued expansion in the digital finance sector, aligning with its broader strategy to diversify its portfolio and accelerate financial inclusion through technology-driven partnerships.
About Pesapal:
Pesapal is a leading fintech company providing secure and convenient payment processing services for businesses and individuals across Kenya, Uganda, Tanzania, and other African markets.
About KCB Group:
KCB Group Plc is one of the largest financial services institutions in East Africa, offering a wide range of banking, investment, and insurance services across the region.
