Kenyan tycoon Joshua Oigara’s KCB Group launches new subsidiary in Rwanda after merger
KCB Group operates as a holding company for subsidiaries across Africa.
KCB Group operates as a holding company for subsidiaries across Africa.
The merger will result in the creation of the second-largest bank in Rwanda’s banking industry.
The proposed deal comes after the Oigara-led group expressed interest in negotiating another acquisition in Tanzania.
Under Oigara, the group’s assets have increased in value from $3.41 billion at the end of 2013 to $8.64 billion by the end of 2020.
KCB Bank operates as a subsidiary of KCB Group, one of the largest commercial banking groups in East Africa.
KCB Group is one of East Africa’s largest commercial banking groups.
The move increases the group’s market share in the Rwandan retail and SME banking sector.
Earnings surged by more than 100 percent in the first six months of 2021.