KCB Group PLC will acquire up to 75% of Riverbank Solutions Limited, a regional fintech firm operating in Kenya, Uganda and Rwanda.
The deal, subject to regulatory approvals, including the Central Bank of Kenya, will expand KCB’s digital services and distribution network. It targets SMEs and MSMEs, a key growth segment in the region.
Riverbank’s platforms include Zed 360 for business management tools like inventory tracking and payroll, Swipe for agency banking, Zizi for revenue collection, and CheckSmart for social payments.
KCB will integrate these services to strengthen its digital offerings and consolidate agent banking under one platform. The deal also gives KCB access to Riverbank’s marketplace and capability-building solutions.
Riverbank has provided KCB with agency banking services since 2013. It will become a KCB subsidiary once the transaction is completed.
