KCB Acquisition



KCB Group Acquires Majority Stake in Riverbank Solutions 

KCB Group PLC and Riverbank Solutions Limited have signed a binding agreement that will result in KCB acquiring 75% shareholding in the financial technology firm. This will help to strengthen KCB's distribution network within the country. It will be a win win situation both for the bank and it's customers. It will also strengthen the branch network in Rwanda and Uganda.

Upon the completion of the transaction, Riverbank will become a subsidiary of KCB Group. The deal will also boosts the group's digital capability and indirectly lead to an increase in market share.

The acquisition will see KCB tap into Riverbank’s capabilities in payment ecosystems. This will lead to KCB'S expansion into a new market trend. 

Through Riverbank’s technology platform, ‘Zed 360’,KCB will provide it's SME and MSME new opportunities to innovate. That’s why we have made this strategic acquisition for the sake of increasing our service variety to our customers. The successful completion of the transaction is subject to conditions that are customary for the Central Bank of Kenya. 


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