Kenya's NCBA Bank

Kenya’s regional financial institution, NCBA Bank, said on Tuesday it plans to boost its presence in West Africa in order to achieve its ambition of becoming a pan African bank.

John Gachora, NCBA Bank group managing director, told journalists in Nairobi that the financial institution already operates in Kenya, Uganda, Tanzania Rwanda and Ivory Coast.

“We are already present in Ivory Coast where we primarily operate digital financial business and we hope to use the country as a spring-board to penetrate to the rest of West Africa,” Gachora said when NCBA Bank listed new shares on the Nairobi Securities Exchange following the merger of NIC Bank and Commercial Bank of Africa.

NCBA Bank, which is the third-largest banking institution in east Africa in terms of assets, hopes to roll out its innovative digital financial products across the African continent.

“We have what it takes to provide financial solutions for the continent,” Gachora added.

He revealed that his bank, which has approximately 41.1 million customers, will also expand its presence in Africa by leveraging the growing uptake of mobile phones in the continent.

Gachora said that most of the African countries have low levels of financial inclusion and this creates a huge demand for commercial banking services. Enditem


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