DNK International By Our Business Reporter,Nairobi.
Kenya Commercial Bank (KCB) Group has acquired a controlling stake in Riverbank Solutions, a major Kenyan fintech company associated with former Football Kenya Federation (FKF) president Nick Mwendwa, in a transaction estimated at about Sh2 billion.
The Competition Authority of Kenya (CAK) has approved the deal, allowing KCB to take up a 75 per cent shareholding in the fintech firm.
The approval clears a key regulatory hurdle and formally places Kenya’s largest bank by assets in a controlling position at Riverbank Solutions.
Riverbank Solutions is widely known for building and running critical digital financial infrastructure, including revenue collection platforms, payment switching systems, and transaction processing solutions.
Its technology is currently used by commercial banks, savings and credit cooperative societies (Saccos), microfinance institutions (MFIs), and several county governments for the collection of levies, fees, and other public revenues.
Sources familiar with the transaction say the acquisition aligns with KCB’s long term digital and regional growth strategy, as the lender seeks to deepen its presence in digital payments, public sector collections, and financial services technology.
By buying into Riverbank Solutions, KCB effectively acquires ready made fintech capability, specialised talent, and market tested systems, enabling faster deployment and scalability compared to building similar infrastructure from scratch.
The deal is also expected to strengthen KCB’s competitiveness as banks face rising pressure from stand alone fintech firms and mobile money platforms.
With Riverbank’s systems already embedded across multiple financial institutions and county governments, KCB gains strategic influence over a critical layer of Kenya’s digital finance ecosystem.
Although the finer details of governance and operational integration have not been made public, analysts say the acquisition could position KCB as a regional leader in financial technology solutions, potentially extending Riverbank’s platforms beyond Kenya into markets where the KCB Group already operates.
[DNK-International@January 27,2026]
