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KCB to Step Up Investment in South Sudan as Nation Bounces Back

  • Kenya lender’s unit eyes 64% increase in customers by end 2020
  • Bank shuttered more than half of its branches as war raged
Riek Machar and Salva Kiir shake hands in Addis Ababa on Sept. 12, 2018.

Riek Machar and Salva Kiir shake hands in Addis Ababa on Sept. 12, 2018.

Photographer: Yonas Tadesse/AFP via Getty Images

Kenya’s largest bank by assets, KCB Group Ltd., plans to increase investment in its South Sudan unit after riding out a five-year ruinous civil war in the oil-rich East African nation.

With a balance sheet of 32 billion South Sudan pounds ($203.8 million) KCB Souh Sudan Ltd. is reopening branches and introduced mobile banking to attract more customers, according Managing Director Roba Waqo Jaldesa. KCB has 122,000 customers and is targeting 200,000 by the end of next year, he told reporters in the South Sudanese capital, Juba