KCB Group PLC, one of East Africa's banking giants, has confirmed it is acquiring a minority stake in payments fintech Pesapal Limited . The investment, signed on October 31, 2025, positions KCB to control a 'full-stack' financial ecosystem, moving it from a traditional lender to a fully integrated financial technology provider.
The acquisition of the payment service provider PSP, which is licensed by the Central Bank of Kenya and operates across five countries Kenya, Uganda, Tanzania, Rwanda, and Zambia is the second major fintech play by KCB this year, following its earlier purchase of a majority stake in Riverbank Solutions, a company specialising in backend core banking and payment processing infrastructure.
KCB Group CEO Paul Russo has previously stated the bank's goal is to offer a comprehensive suite of solutions. When viewed in tandem, the two acquisitions demonstrate a clear trajectory: Riverbank provides the technical backend processing capabilities while Pesapal offers the visible interface, which comprise the customer-facing merchant systems such as Point-of-Sale POS devices and e-commerce gateways.
