KCB Group has announced plans to acquire a minority stake in Pesapal, one of Kenya’s leading digital payment service providers, marking a major step in its broader strategy to diversify beyond traditional banking. The acquisition, which is pending approval from the Central Bank of Kenya, signals the bank’s intention to deepen its footprint in the fast-evolving digital payments ecosystem and strengthen its presence in the financial technology space.
Pesapal, founded in 2009 by Agosta Liko, has become a key player in East Africa’s payment infrastructure, providing online, mobile, and in-store payment solutions across multiple countries including Kenya, Uganda, Tanzania, Rwanda, Zambia, Zimbabwe, and Malawi. Its integration with major payment channels such as M-Pesa, Airtel Money, Visa, and Mastercard has enabled seamless transactions for individuals and businesses, supporting the region’s transition toward a cashless economy.
Through this partnership, KCB seeks to leverage Pesapal’s technology and extensive merchant network to create innovative payment solutions tailored for small and micro enterprises in Kenya. This move reflects KCB’s continued commitment to driving financial inclusion by empowering entrepreneurs and consumers with modern, convenient, and affordable payment options. The acquisition will also enable KCB to tap into Pesapal’s growing customer base and enhance its digital service delivery.
This is not the first time KCB has turned to strategic acquisitions to strengthen its market position. In 2022, the bank acquired Trust Merchant Bank in the Democratic Republic of Congo, expanding its footprint across seven countries in East and Central Africa. With over 30 million customers, KCB remains one of the region’s most influential financial institutions, constantly innovating to adapt to changing customer behaviors and technological advancements.
As mobile money continues to dominate financial transactions—with 47.7 million active subscriptions in Kenya alone as of June 2025—the partnership between KCB and Pesapal is poised to reshape how digital payments are delivered and accessed. By combining KCB’s scale and financial strength with Pesapal’s fintech agility, the collaboration is set to redefine the future of banking and payments in the region.