KCB Group Plc has secured regulatory approval to take control of Riverbank Solutions Limited, paving the way for one of the most significant bank–fintech deals in Kenya’s financial sector in recent years.
The Competition Authority of Kenya (CAK) confirmed it has authorised KCB’s acquisition of a 75 per cent stake in the payments technology firm, bringing to an end a review process that began after the deal was announced in March 2025.
The approval was published in a gazette notice dated December 19, 2025, and signed by CAK Director-General David Kemei.
However, the regulator attached strict conditions to the transaction, particularly around the handling of sensitive customer data.
CAK directed that all third-party customer and merchant data processed through Riverbank’s systems must be fully ring-fenced and kept separate from KCB’s wider operations. The authority said such data must not be accessed or used by KCB beyond what is “strictly necessary for the operation of Riverbank Solutions.”
CAK also moved to protect existing clients of the fintech firm, ordering that their agreements remain intact.
“The merging parties shall ensure that the Target Undertaking honours its current contracts with its customers as per the agreed contractual terms,” the notice read.
Riverbank Solutions is a homegrown financial technology company that builds and runs digital payments infrastructure used by banks, microfinance institutions, retailers, manufacturers and public sector bodies.
Its products range from mobile and card-based payment systems to transaction switching, point-of-sale solutions and embedded payment devices.
For KCB, the acquisition deepens a relationship with Riverbank that has spanned more than a decade and signals a stronger shift toward owning core digital payments infrastructure.
The bank has previously said the deal will strengthen its digital banking and payments offering as competition intensifies across Kenya’s financial services industry.
The CAK approval clears a major regulatory hurdle for the transaction, with the acquisition now expected to proceed subject to any remaining approvals from other relevant authorities.
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