KCB bolsters its presence in Sudan

by Richard Kilner

Story link: KCB bolsters its presence in Sudan

The Kenya Commercial Bank (KCB) has enlarged its network in southern Sudan with the addition of three new branches.

The KCB has operated in Sudan since the middle of 2006 when it opened its first branch in the regional capital Juba.

Since then it has opened new branches in Rumbek, where the UN and a variety of aid organisations are based, and Yambio.

The trio of new branches, to be located in Bentiu, Yei, and Juba Main, is an indicator of the bank’s increasing confidence in the economic potential of southern Sudan, which in recent history has been embroiled in prolonged warfare.

Daniel Mavindu, MD of the KCB, has stated that the firm has seen enormous growth in its Sudanese operations in terms of client base, profits and balance sheet.

The expansion in Sudan marks another step along the KCB’s strategic road towards becoming a predominant regional bank.

In December of last year it was given approval to begun operating inside Rwanda, and in the same month opened its first branch in Zanzibar.

During June and July of 2008 the KCB received the green light to enter Tanzania, and increased its presence in Uganda.