KCB to acquire minority stake in Pesapal
NAIROBI, Kenya, Nov 4 - KCB Group PLC has signed an agreement to acquire a minority stake in payment service provider Pesapal Limited, in a deal aimed at Kenya breaking news | Kenya news today |..
✨ Key Highlights
KCB Group PLC has signed an agreement to acquire a minority stake in payment service provider Pesapal Limited, aiming to boost SMEs and digital growth across Africa.
- The investment will combine KCB's financial infrastructure with Pesapal's technology to drive inclusive commerce.
- Pesapal operates in Kenya, Uganda, Tanzania, Rwanda, and Zambia.
- This move follows KCB's recent acquisition of a majority stake in Riverbank Solutions Limited, further expanding its fintech footprint.
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KCB Acquires Pesapal Stake; OpenAI Signs $38bn Deal; AVPA Launches Sh1.6bn Fund - November 2025
KCB Group PLC has signed an agreement to acquire a minority stake in payment service provider Pesapal Limited, an initiative aimed at boosting SMEs and digital growth across Africa. In another major deal, OpenAI, the company behind ChatGPT, has signed a significant $38 billion cloud computing deal with Amazon to diversify its computing power sources and reduce its reliance on Microsoft. Additionally, the Africa Venture Philanthropy Alliance (AVPA) has launched Africa’s first Catalytic Pooled Fund, valued at Sh1.6 billion, to boost investment in mental health. This fund was unveiled during AVPA’s 2025 Annual Conference in Nairobi and aims to unlock private capital for the underfunded sector.
