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Kenyan bank targets Uganda, Rwanda

By Vision Reporter

Added 19th June 2006 03:00 AM

KENYA Commercial Bank (KCB) is eyeing Uganda and Rwanda markets where a large percentage of the two countries’ financial sectors remained unexploited.

KENYA Commercial Bank (KCB) is eyeing Uganda and Rwanda markets where a large percentage of the two countries’ financial sectors remained unexploited.

By Reuben Olita
in Nairobi


KENYA Commercial Bank (KCB) is eyeing Uganda and Rwanda markets, the bank’s chairman, Susan Mudhune, has said.

Mudhune said this recently during the 35th annual general meeting in Nairobi.
She said a large percentage of the two countries’ financial sectors remained unexploited, which KCB would roll out and exploit.

Mudhune said of Uganda’s 28 million people, over 90% are unbanked while Rwanda’s 65% of its 8.7 million people are unbanked.

She said the bank was looking at a number of strategic options for entry into the Uganda and Rwanda markets.

“KCB has potential to enter these markets and establish itself as a strong regional player. However, we will move only if we establish that it makes commercial sense and that we have adequate resources to invest there,” Mudhune assured the shareholders.

The bank opened a subsidiary in Sudan this year following the successful signing of a peace agreement to end two decades of civil war between the government and the rebels.

She said the Sudan subsidiary would have fully operational branches in Rumbek and Juba.

Kenyan bank targets Uganda, Rwanda

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