KCB to venture into Somalia

NepJournal
By NepJournal September 15, 2016 16:20

By Nep Journal Correspondent:

uhuru-and-sheikh-nepjournal

Kenyan President Uhuru Kenyatta and his Somalia counterpart Hassan Sheikh Mohamud share moments after the IGAD meeting. The two leaders agreed to ease trade and movement of people between their countries.

Kenya’s biggest bank ‘Kenya Commercial Bank’ is set to venture into neighboring Somalia starting with a branch in the City of Mogadishu.

This was part of the trade deals signed by President Uhuru Kenyatta with his Somalia counterpart Hassan Sheikh Mohamud on the sidelines of the recent IGAD summit in the volatile city.

KCB has expanded its markets by looking beyond Kenyan borders and has already established itself in Southern Sudan, Uganda, Tanzania, Rwanda and Burundi.

The bank is also eyeing Burundi and DRC Congo according to its strategic plan.

Commercial bank of Africa (CBA) and KCB Group both applied for license to operate in the horn of Africa nation.

 

Do you have something to add to this story? Share your thoughts in the comments section below.

Your comments:

NepJournal
By NepJournal September 15, 2016 16:20

Photo of the day!

Happy Mashujaa Day

About NJ

Nep Journal is a progressive media initiative that aims to serve as the leading space where North Eastern Kenya’s leading thinkers, analysts and writers provide you, our readers, with new perspectives on all issues affecting the region.

We aim to publish daring perspectives with original content, and beautifully written pieces so as to empower, educate and inform our people.

Get in touch with NJ

Do you have anything to share with us? We value your input and contribution. You can send us your opinion pieces, articles or any other relevant information. Email: publisher @ nepjournal . com or click here