KCB Group Plc, East Africa’s largest lender by assets, said it plans to increase its stake in Pesapal Limited, a leading payments technology platform, to accelerate digital commerce, cashless transactions, and financial inclusion across the continent.
KCB currently holds a minority stake in Pesapal, and the planned increase will allow the bank to strengthen its digital and fintech ecosystem, integrating mobile banking, payments, savings, and investment services for both consumers and businesses. The transaction remains subject to regulatory approvals and customary conditions.
“KCB is committed to driving innovation and providing seamless financial services that empower businesses and households across Africa,” said Group Chief Executive Paul Russo. “Expanding our investment in Pesapal will enhance our digital footprint and create new pathways for inclusive financial growth in all our markets.”
The move complements KCB’s ongoing fintech initiatives, including the launch of a unified mobile banking app and a $150 million green financing package from the African Development Bank. Analysts say the increased stake positions KCB to play a leading role in Africa’s digital banking and payments sector.
In March 2025, KCB Group acquired 75 percent shareholding in financial technology firm, Riverbank Solutions to strengthen its distribution network across the region.
KCB’s focus on digital innovation comes amid a strong 2025 financial performance, with KSh68.4 billion in net profit and KSh2.15 trillion in total assets, highlighting the bank’s ability to balance growth with strategic technology investments.