KCB Group is set to acquire a 22.23% stake in Kenyan payments company Pesapal, a transaction that would give the bank indirect control of Pesapal’s Tanzanian subsidiary, according to the country’s competition regulator.
The disclosure by Tanzania’s Fair Competition Commission (FCC) provides the first public figure for a stake KCB has previously described only as a minority investment. The value of the transaction has not been disclosed, and the deal is still undergoing regulatory review.
The FCC published the notice on August 21, saying it had begun assessing the proposed acquisition and was inviting comments from interested parties.
The regulator will examine whether the transaction could substantially reduce competition in any relevant market in Tanzania.
According to the notice, the transaction involves KCB Group acquiring 22.23% of Pesapal’s issued share capital, which would result in the bank gaining indirect control of Pesapal Tanzania Limited.
KCB first announced the investment in November 2025 but did not disclose the size or value of the stake. At the time, the bank said the deal would support its efforts to provide payment and business-management solutions to small and micro businesses.
The proposed acquisition is part of KCB’s broader push into payments and business software. Pesapal operates across Kenya, Uganda, Tanzania, Rwanda and Zambia, giving KCB potential exposure to a merchant network spanning several East African markets.
KCB has made other moves into the sector. In January 2026, the bank received approval to acquire a 75% stake in Riverbank Solutions, a Kenyan payments and business-software company, for KSh2 billion ($15.4 million).
The bank has also indicated that expanding its merchant payments business across East Africa is a priority.
Pesapal provides businesses with tools for accepting payments through cards, mobile money and bank transfers, alongside business-management services. Its Tanzanian subsidiary is licensed by the Bank of Tanzania as a payment service provider, according to the FCC.
The FCC closed its public consultation on the proposed KCB-Pesapal transaction on September 4 after seeking views from customers, suppliers, competitors and employees on its potential impact.
KCB has not disclosed the purchase price and has not confirmed whether the 22.23% stake has already been transferred.
For now, the FCC continues to treat the transaction as a proposed acquisition as it reviews its potential competition implications in Tanzania.
