Listed lender KCB Group is boosting its digital payments front with a platform that will connect some 10,000 fuel stations.
In a deal with Pesapal, KCB Group says the platform will enhance payments, fuel dispensing and sales tracking. Dubbed Forecourt Management Solution, the platform is billed as a cure to manual errors and give dealers expanded access to working capital.
“This is our commitment to utilising technology and innovation to support efficiency in the oil and gas sector,’ says Annastacia Kimtai, KCB Bank Kenya Managing Director.
Pesapal founder Agosta Liko adds that the deal borrows on their extensive support they have given to the sector over the years.
“It is driven by increasing consumer expectations for digital services and growing pressure for operational transparency,’ Liko noted.
Early in the month (November), KCB Group announced an agreement to acquire a minority stake in Pesapal. The transaction is still subject to necessary regulatory approvals.