A payments startup in Kenya that facilitates merchant payments and processes client funds.
KCB Bank Group to acquire stake in Pesapal
KCB Bank Group will acquire a minority stake in Pesapal, enhancing its fintech portfolio. This acquisition follows KCB's $15.4 million investment in Riverbank Solutions earlier in 2025.
Kenya’s High Court exempts fintechs from VAT in landmark ruling
The Kenyan High Court ruled that fintechs are exempt from VAT on payment services. The ruling overturned a previous decision allowing KRA to pursue a KES 76.8 million claim against Pesapal.
Next Wave: Unlocking alternative funding streams for African startups
In 2024, African startups raised $3.2 billion across over 182 equity and debt funding deals. Fintechs and e-commerce companies accounted for 75% of total funding to African founders between 2019 and 2023.
