CAK okays KCB Group’s acquisition of fintech Riverbank
CAK said it had authorized the transaction pursuant to Section 46(6)(a)(ii) of the Act, subject to specific conditions aimed at safeguarding competition and data integrity in the financial services sector. Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Competition Authority of Kenya (CAK) has officially approved KCB Group PLC's acquisition of Riverbank Solutions Limited, a transaction first announced in March 2025.
- The approval is subject to conditions, including KCB Group ring-fencing all third-party transactional customer and merchant data handled through Riverbank Solutions’ infrastructure.
- The notice, dated December 19, 2025, and signed by CAK Director-General David Kemei, mandates that KCB Group must not share or use this data beyond what is strictly necessary for Riverbank Solutions' operations.
- KCB Group is acquiring a 75 percent stake in Riverbank Solutions, a Kenyan financial technology company specializing in digital payments infrastructure.
Continue Reading
Read the complete article from Capital Business
Part of the Day's Coverage
CAK Approves KCB Group Acquisitions Amid Projections for Kenyan Economic Growth - January 2026
The Competition Authority of Kenya (CAK) has officially approved KCB Group PLC's acquisition of Riverbank Solutions Limited, a fintech firm. This transaction was first announced in March 2025. In a separate deal, KCB Group also received approval to acquire the Mwendwa firm. These corporate acquisitions are taking place as Kenya's economy is projected to demonstrate resilience and growth into 2026, according to a report from Mastercard. The report states that this growth will be primarily fueled by strong domestic demand. The economic outlook is also supported by increasing digital inclusion and diversified trade relationships.
