KCB Group, Kenya’s largest commercial bank by assets, will acquire a 22.23% stake in digital payments company Pesapal, according to a disclosure by Tanzania’s Fair Competition Commission (FCC). The figure provides the first public detail on a transaction the bank first announced in late 2025 as an undisclosed minority investment.
The acquisition remains subject to regulatory approvals. The value of the stake has not been disclosed. Through the investment, KCB will gain indirect control of Pesapal’s Tanzanian subsidiary.
Pesapal operates payment and business solutions across Kenya, Uganda, Tanzania, Rwanda and Zambia. The company serves merchants in retail, hospitality, travel, petroleum, manufacturing and other sectors, enabling acceptance of card, mobile money and bank payments both online and in person.
KCB has been expanding beyond traditional banking into digital payments and business software. The Pesapal investment follows earlier moves such as its acquisition of a majority stake in Riverbank Solutions, a payments infrastructure provider. The bank has said the Pesapal deal will support the development of innovative payment and related solutions for small and micro enterprises while enhancing value for shareholders of both companies.
Pesapal is expected to continue operating independently under its existing leadership. For KCB, the stake offers exposure to Pesapal’s regional merchant network and transaction data, potentially supporting further product development around merchant accounts, settlements and data-driven financing.
The FCC disclosure marks a notable step in the regulatory process for a cross-border transaction involving one of East Africa’s largest banks and a multi-country payments provider. Final completion will depend on clearances from relevant authorities in the markets where both parties operate.
