KCB opens first branch in Zanzibar

by Richard Kilner

Story link: KCB opens first branch in Zanzibar

Kenya Commercial Bank (KCB) has continued its expansion throughout the east of Africa with a new branch in Zanzibar.

It is more than a century ago that the KCB’s predecessor, National Bank of India, established its first branch on the island.

The new branch is the sixth that KCB has established in Tanzania, and the opening ceremony was presided over by Zanzibar President Amani Abeid Karume.

The president welcomed the new branch, describing it as a vote of confidence in the Zanzibari economy.

Martin Oduor-Otieno, the KCB group chief executive, has stated that the bank is to continue its policy of expansion both in mainland Tanzania and Zanzibar.

Soon the KCB will open its first branch in Rwanda, taking the number of countries it operates in up to five with a target of eight for the end of 2009.