A payments startup in Kenya that facilitates merchant payments and processes client funds.
Banks and fintechs face a new VAT bill as Kenya changes digital payment tax rules
The Finance Act 2026 introduces a 16% VAT on fees for digital payment services in Kenya. The VAT will apply to payment processing, card settlement, and payment gateway operations starting November 1, 2026.
Safaricom taps Pesapal’s 30,000 POS terminals to take M-PESA contactless
Safaricom partners with Pesapal to bring tap-to-pay functionality to M-PESA users. Customers can now use NFC-enabled devices or QR codes for payments at Pesapal terminals.
KCB reveals 22.23% Pesapal stake as its wider fintech strategy takes shape
KCB Group is acquiring a 22.23% stake in Pesapal, enhancing its position in digital payments. The acquisition is under review by Tanzania's Fair Competition Commission due to competition implications.
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.
