KCB Bank Kenya has partnered with Pesapal, East Africa’s leading payment and business solutions provider, to transform fuel station operations across the region.
The collaboration will see the roll-out of Pesapal’s advanced Forecourt Management Solution to over 10,000 fuel dealers across East Africa, combining cutting-edge operational technology with innovative financing models to transform the petroleum retail sector by efficiently managing functions such as fuel dispensing, sales, inventory tracking, payments, and reconciliation.
The partnership is part of KCB Bank’s Oil and Gas Ecosystem and Value Chain Banking Proposition.
By leveraging the real-time performance data generated through Pesapal’s platform, KCB can accurately assess creditworthiness and offer stock financing and working capital solutions to enable dealers to operate more efficiently and grow sustainably.
This data-driven approach to lending represents a fundamental shift in how financial institutions in partnership with Fintechs can support businesses in Africa’s petroleum sector.
Speaking on the milestone, KCB Bank Kenya Managing Director, Annastacia Kimtai, said: “The rollout of this framework is a clear demonstration of KCB’s commitment to utilizing technology and innovation to provide holistic solutions to our customers in the oil and gas sector.”
“We are going beyond financing to support operational efficiency, sustainability, and growth across the entire oil and gas value chain,” she added.
