Equity Bank opens more branches to South Sudan
Written By:Obrien Kimani, Posted: Thu, Sep 01, 2011
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Equity Bank plans to open four more branches in South Sudan as the bank rushes to position herself in the largely un-tapped market.
The bank which opened its fourth branch in the country this week plans to tap into the Western, Eastern Equatorial, Jonglei and Western Baraghazal states among others according to Equity bank South Sudan executive director Paul Gitahi.
The world’s newest state which has been embroiled in civil war for many decades has become a soft target for Kenyan investors due to massive potential growth as the country embarks on a rebuilding path.
Already there are two Kenyan banks operating in South Sudan and three more are expected to join the list early next year.
Family Bank is the latest to proclaim intentions of opening a branch early next year followed by Co-operative bank and Kenya Commercial Bank.
Local manufacturers like Bidco and EABL who have been using distribution networks to supply the market also plan to establish there while KenolKobil and BAT Kenya target to increase supply.
http://www.kbc.co.ke/news.asp?nid=72242
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