Kenyan bank stepping up investment in South Sudan

FILE PHOTO: An ATM is seen in the banking hall at the Kenya Commercial Bank, Kencom branch in Nairobi JOHANNESBURG – Kenya Commercial Bank (KCB) said it plans to step up investment in South Sudan in a bid to increase its presence across the world’s youngest nation, Radio Tamazuj reported.

Reporters in the South Sudan capital Juba were recently told by KCB’s managing director Roba Waqo Jaldesa his bank, which is Kenya’s largest bank by asset plans, wanted to increase its customer base from 122,000 to 200,000 by 2020 as the five-year civil war comes to an end.

To this end KCB has started reopening 12 of its 23 branches that were closed during the civil war as well as opening a new branch this year.

The Kenyan bank has also started introducing mobile banking with Jaldesa explaining that this technology would enhance the service being provided by the financial institution.

KCB had 32 billion South Sudanese Pounds on its balance sheet by July.

– African News Agency (ANA)

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