banks Kenya’s regional bank Equity Bank plans to tap into the growing Chinese business community in East and Central Africa in order to boost its revenues.
James Mwangi, the chief executive officer of Equity Bank, said in Nairobi, the capital of Kenya, that the commercial lender has developed a Chinese desk due to the significance of the Chinese community in trade and investment in the East and Central Africa region.
“Our overall objective is to provide banking services to up to 50 percent of the Chinese community operating in the region,” Mwangi said during an investor briefing Tuesday.
Equity Bank has operations in Kenya, Uganda, South Sudan, Rwanda, Tanzania and the Democratic Republic of the Congo.
Mwangi observed that the Chinese community is playing a pivotal role in the mining sector, housing, oil and infrastructure projects in the region.
The commercial lender has also built interoperability with Chinese fintech organizations in order to facilitate seamless payments among traders between the region and China. Enditem
