August 11, 2019 (JUBA) – KCB Group will boost its investments in South Sudan with the aim of nearly double its individual customers by the end of next year, senior company executive disclosed on Thursday.
- An external view of KCB Buluk branch in Juba, South Sudan. Dec. 7, 2011 (ST)
“Now we are focusing on expanding,” the group’s Managing Director Roba Waqo Jaldesa told reporters in the capital, Juba.
KCB, regarded East Africa’s largest lender by assets, also announced plans to resume operations in the closed branches in South Sudan.
The bank, which operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan, shut 12 of its 23 branches in 2016 and 2017 due to a devastating civil war.
“We have enough capital to invest in the market, both in terms of brick and mortar and also technology,” stressed Jaldesa.
The bank, he said, plans to introduce mobile banking and grow its individual-based customers from 122,000 to over 200,000 by the end of 2020.
Meanwhile, the head of finance at KCB group, Granton Ndungwa said the financial institution has enough capital to invest in the market.