“Kenya made sense. East Africa is close to Egypt, the language is similar, and Kenya is the gateway. The Kenyan market is one of the most advanced digitally and digital is the perfect way to, with a controlled investment, grow a large footprint quickly,” says the bank’s Managing Director Hussein Majid Abaza.
In April 2020, CIB initially acquired a 51% stake in Kenya’s Mayfair Bank, subsequently completing the buyout in 2023 and rebranding it as CIB Kenya.
Source link : https://www.forbesafrica.com/current-affairs/2024/02/26/egypts-pivot-towards-sub-saharan-africa-and-strengthening-economic-ties/
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Publish date : 2024-02-26 08:00:00
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