KCB gets green light in Rwanda

by Richard Kilner

Story link: KCB gets green light in Rwanda

Following the green light from inspectors of the National Bank of Rwanda (NBR) yesterday, Kenya Commercial Bank (KCB) has begun its operations in Rwanda.

The branch and head office on Avenue de la Paix in Kigali were inspected and given the stamp of approval by officials from the NBR, with management being informed they could proceed with business.

Peter Munyiri, deputy chief executive of the KCB, explained that the approval given was the culmination of work conducted earlier in the year by the KCB, with a view to continuing its regional expansion programme.

Over the course of the next six months the bank aims to open a further 8-10 branches in Rwanda.

Presently the KCB plans for a further pair of branches in Kigali, followed by branches in Gisenyi, Ruhengeri, Butare, Cyangugu and Nyagatare.

Munyiri went on to say that there was enormous potential for growth in Rwanda, and the KCB wanted to be at the heart of it.