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[2008-09-25] KCB to start Rwanda operations in November The Kenya Commercial Bank (KCB) will open its first branch in Rwanda in November, KCB Group Chief Executive Martin Otieno-Oduor has said.
The move is in tandem with the bank’s expansion strategy that has increased its presence in the region.
"KCB currently has operations in four countries in the region and we will be entering the fifth market when we start operations in Rwanda in the next two months," he said.
The bank has operations in Kenya, Uganda, Tanzania and Southern Sudan. It has used part of the Sh5.5 billion raised from its rights issue concluded in August to enter the Rwandan market.
Oduor was speaking yesterday during the signing of a partnership between the bank and the Export Promotion Council (EPC) in Nairobi.
Market base
The two-year partnership is intended to assist small and medium enterprises (SME) in Kenya increase their market base by exporting products and services. It also aims at strengthening their capacity to compete in regional and international markets through entrepreneurial training and creating market linkages.
The bank will lend to SMEs willing to export products while EPC will offer business counselling and export market intelligence to SMEs.
"Export financing is one of the major challenges for small enterprises," said Mr Matanda Webuyele, CEO EPC.
KCB and EPC have jointly organised a business trip to Dubai in the first week of October for 72 entrepreneurs, while another batch of 100 is set to visit China from October 15.
