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June 12, 2008

KCB increases its presence in Uganda

by Richard Kilner

Story link: KCB increases its presence in Uganda

The Kenya Commercial Bank (KCB) has bolstered its Ugandan presence with the opening of its third branch in Mbarara.

Peter Muthoka, group chairman, said at the official opening that the new branch was a sign that the KCB believed the area had good potential to become a centre for business.

Specifically, Muthoka referred to the possibility of transborder trade and transport, in addition to Mbarara’s agricultural potential.

Economic activities would receive investment from the new branch in an effort to promote growth in the area, he said.

The three fully functional branches of the KCB in Uganda are performing well, according to the firm.

The KCB’s expansion comes as part of its efforts to create a regional brand based on good services, excellent staff and innovation that is recognised throughout the east of Africa.

Martin Oduor-Otieno, the group’s CEO, described the opening of the third branch in just six months as a chance for the Ugandan part of the business to spread its wings.

 

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