KCB Group, Kenya’s largest commercial bank by assets, will acquire a 22.23% stake in Kenyan payments company Pesapal, giving the lender indirect control of Pesapal’s Tanzanian subsidiary, according to Tanzania’s competition regulator.
The Fair Competition Commission (FCC) disclosure provides the first public figure for a transaction KCB has kept undisclosed since announcing it in 2025. The value of the stake has not been disclosed, and the acquisition remains subject to regulatory review.
The deal deepens KCB’s push into payments and business software, giving the bank exposure to Pesapal’s merchant network across East Africa while adding to a string of investments that have taken it beyond traditional banking. Pesapal operates in Kenya, Uganda, Tanzania, Rwanda and Zambia.
The FCC published the notice on August 21, saying it had started reviewing the transaction and inviting comments from parties that could be affected. The review will assess whether the acquisition could substantially lessen competition in any relevant market in Tanzania.
Originally published by TechCabal.