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Tanzania reveals KCB’s 22.23pc Pesapal stake buyout
KCB Group CEO Paul Russo makes his remarks during the launch of the KCB Group Sustainability Bond Framework- Use of Proceeds on August 19, 2026 at the KCB Leadership Center. The groups aim is to mobilise long-term capital towards projects and activities that deliver positive environmental and social outcomes.
Photo credit: Francis Nderitu | Nation Media Group
KCB Group will acquire a 22.23 percent stake in digital payments service provider Pesapal, as the bank accelerates its push into fintech amid intensifying competition in the payments space.
KCB announced last November that it had signed an agreement to acquire an undisclosed minority stake in Pesapal, which operates in Kenya, Uganda, Tanzania, Rwanda, and Zambia.
