KCB has signed an agreement to acquire a minority stake in Pesapal Limited.
The deal, announced on October 31 through a public notice approved by the Capital Markets Authority (CMA), is subject to regulatory clearance from the Central Bank of Kenya (CBK) and other customary conditions.
In a statement, KCB said the investment will “set the stage for the development of innovative payment and related solutions for Kenya’s small and micro enterprises.” The move aligns with the bank’s ongoing strategy to expand its footprint in fintech and digital financial services.
Pesapal provides online and in-store payment solutions. These include point-of-sale systems and merchant services. The company is a key player in enabling businesses to accept digital payments seamlessly.
Pesapal recently partnered with RACK to launch a fully-integrated Point of Sale (POS) solution designed to digitize sales, payments, inventory, tax compliance and customer management.
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