Kenya Bank to open in South Sudan

Dec 17, 2005 (NAIROBI) — Kenya Commercial Bank (KCB) is finalising plans to venture into southern Sudan.

Sources said the bank would open two branches in the region.

“As part of our growth strategy, KCB Sudan will initially have two branches in Rumbek and Juba,” said the institution in a statement.

The bank is hiring senior managers as it plans to start operations next year.

Among the positions to be filled is that of the managing director, who will be charged with the responsibility of developing market penetration and growth strategy.

Others include a bank manager, operations manager and clerks.

The move comes in the wake of a visit by a Sudanese delegation that was invited by leading Kenyan companies that are eyeing the emerging market.

However, the bank is not sure on when the operations would start.

“We are not certain on the date because we have several issues to sort out,” said a source at the strategy and change department at the bank.

(The Standard)