Market News KCB races to be the first Kenyan bank in Addis AbabaKCB Group CEO Joshua Oigara at an investor briefing on March 6, 2019. PHOTO | DIANA NGILA | NMGKCB Group #ticker:KCB is aiming to be the first local lender to start operations in neighbouring Ethiopia as the country opens up to foreign investment in the banking sector. On Wednesday, KCB Group chief executive Joshua Oigara told an investor briefing the lender is banking on the speedy reform process to open up the financial services sector. KCB chief financial officer Lawrence Kimathi said the lender would seek to be among the first Kenyan lenders to set up base there to tap the immense opportunities if approvals are given. Ethiopia’s population, which is the second largest in Africa after Nigeria, is seen as an attractive prospect for Kenyan banks.

Source: Ethiopian News March 06, 2019 18:56 UTC