KCB to Take 22.23% Stake in Pesapal, Tanzanian Regulator Reveals
Summary
KCB Group is acquiring a 22.23% stake in Pesapal, though the deal still awaits regulatory approval and the price has not been disclosed. Tanzania’s Fair Competition Commission has published the transaction details and invited public comment because the deal could affect competition in Tanzania through Pesapal’s local subsidiary. Pesapal provides payment and business-management tools for merchants across East Africa, including card, mobile money, and bank payment acceptance. The transaction fits KCB’s broader push into fintech, following its earlier purchase of a majority stake in Riverbank Solutions. If approved, the deal will expand KCB’s access to Pesapal’s merchant network and strengthen its tools for serving small and medium-sized businesses.
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