Kenya: KCB to Acquire Minority Stake in Pesapal

Nairobi — KCB Group PLC has signed an agreement to acquire a minority stake in payment service provider Pesapal Limited, in a deal aimed at empowering small and medium-sized enterprises (SMEs) and accelerating digital growth across Africa.

Pesapal, licensed by the Central Bank of Kenya, operates in Kenya, Uganda, Tanzania, Rwanda, and Zambia, offering payment and business solutions across key sectors such as retail, hospitality, travel, petroleum, and manufacturing.

KCB said the investment, which is subject to regulatory approval, will combine its financial infrastructure and market expertise with Pesapal's technology and reach to drive inclusive commerce and innovation.

"Businesses across Africa need more pathways to sustainable growth and this partnership delivers by expanding opportunities for them to thrive," said Pesapal Co-founder and CEO Agosta Liko. "This collaboration aligns with our mission and sets the stage for innovations that enhance value for businesses across Africa."

KCB Group CEO Paul Russo said the move strengthens the bank's digital capabilities and supports SMEs with efficient, secure, and scalable payment tools.

"By integrating payments, financing, and business tools, we want to empower SMEs to operate more efficiently, expand their markets, and participate fully in Africa's digital economy," Russo said.

Pesapal will continue to operate independently under its current leadership and strategy, focused on building financial growth infrastructure for African businesses.

The move follows KCB's recent acquisition of a majority stake in Riverbank Solutions Limited, further reinforcing the bank's digital payments and fintech footprint.

Read the original article on Capital FM.

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