NAIROBI, Kenya, Sept 22 – KCB Group is set to acquire a 22.23 percent stake in digital payments firm Pesapal Limited, according to a disclosure by Tanzania’s Fair Competition Commission (FCC).

KCB announced plans last year to acquire a minority stake in Pesapal but did not disclose the percentage it intended to acquire.

The FCC said it had received and started reviewing the merger notification and invited interested parties to submit written comments within 14 days from the first date of publication of the notice.

Pesapal is licensed by the Central Bank of Kenya and operates in Kenya, Uganda, Tanzania, Rwanda and Zambia. It provides payment and business solutions to sectors including retail, hospitality, travel, petroleum and manufacturing.

KCB Group operates a subsidiary in Tanzania and is incorporated in Kenya. The lender is also cross-listed on the Dar es Salaam Stock Exchange, Uganda Securities Exchange and Rwanda Stock Exchange.

In 2025, KCB said the investment, which was subject to regulatory approval, would combine its financial infrastructure and market expertise with Pesapal’s technology and reach to support commerce and innovation.