Press release: KCB Group Plc signs agreement on proposed investment in Pesapal Limited

November 3, 2025 - KCB Group Plc today entered into an agreement to invest in Pesapal Limited (Pesapal), in a transaction that is expected to significantly accelerate commerce, create pathways to prosperity, and drive digital and inclusive growth for businesses across Africa. Pesapal is a financial services provider licensed by the Central Bank of Kenya with a presence in Kenya, Uganda, Tanzania, Rwanda, and Zambia. The company serves businesses across key economic sectors, including retail, hospitality and travel, petroleum, manufacturing, and B2B services. Its comprehensive suite of payment and business solutions addresses critical barriers to business growth from limited payment acceptance options to inadequate business management tools and constrained access to credit. The transaction is subject to conditions that are customary to transactions of this nature, including receipt of regulatory approvals. Combined with KCB Group’s strong financial infrastructure, customer reach, and deep market expertise, the investment strengthens Pesapal’s capacity to scale its operations and catalyse digital transformation in the payments space in Africa. “Businesses across Africa need more pathways to sustainable growth, and this partnership delivers by expanding opportunities for them to thrive,” said Agosta Liko, Co-founder and CEO of Pesapal. “This collaboration aligns with our mission, sets the stage for new innovations that enhance value for businesses across Africa, and demonstrates how fintechs and established financial institutions can work together to accelerate digital transformation and economic inclusion,” he added. The proposed transaction sets the stage for the development of innovative financial services and business solutions for businesses of all sizes across Kenya, enhancing value for shareholders of both Pesapal and KCB. “Through this transaction, we want to further build our digital capabilities, leveraging Pesapal’s cutting-edge technology, footprint, and agility, enabling customers and SMEs to benefit from simplified, secure, and scalable payment tools,” KCB Group CEO, Paul Russo, said. “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.” Pesapal will continue to operate independently under its existing leadership and strategy, focused on building financial growth infrastructure for Africa’s businesses. KCB Group has, over the past years, continually reinforced its digital banking and payments play by enhancing its infrastructure and tapping partnerships with market leaders in this space. In March this year, KCB Group PLC and Riverbank Solutions Limited signed a binding agreement that saw KCB acquire a majority shareholding in the financial technology firm, a move that brought on board Riverbank’s footprint in banking agency, social payments, and business solutions.

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Press release: KCB Group Plc signs agreement on proposed investment in Pesapal Limited