Tanzania regulator reveals KCB’s 22.23% stake in payments firm Pesapal
The deal deepens KCB’s push into payments and business software, giving the bank exposure to Pesapal’s merchant network across East Africa.
Tanzania's competition regulator has disclosed that Kenya's largest commercial bank, KCB Group, plans to acquire a 22.23% stake in payments company Pesapal. This stake will grant KCB indirect control over Pesapal's Tanzanian subsidiary. The Fair Competition Commission (FCC) published the notice on August 21, stating that they have initiated a review of the transaction and are seeking comments from affected parties.
The review will determine if the acquisition could substantially lessen competition in any relevant market in Tanzania. The deal, initially announced in 2025, deepens KCB's foray into payments and business software, expanding its reach into Pesapal's merchant network across East Africa. The FCC has closed public participation on the deal and has commenced its review and investigation.
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