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Ilhan 728×90

KCB to venture into Somalia

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.

 

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