KCB Group has agreed to acquire a 75% controlling stake in Riverbank Solutions, a Kenyan financial technology firm, for about KSh 2 billion (approximately $15 million), according to media reports of the deal, which KCB announced on 25 March 2025. Riverbank Solutions provides agency banking, revenue-collection, payments and SME business-management platforms; it has been KCB's agency banking technology provider since 2013.
The remaining 25% of Riverbank Solutions will stay with existing shareholders. KCB said the acquisition would extend its digital capabilities, with Riverbank's solutions operating across Kenya, Uganda and Rwanda.
REGULATORY APPROVALS AND FOOTPRINT
The transaction requires approval from the Central Bank of Kenya and the Competition Authority of Kenya.
KCB Group has operations across Kenya, Uganda, Tanzania, Rwanda, Burundi, South Sudan and the Democratic Republic of Congo, and a representative office in Ethiopia.
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn