KCB Group Joins Kenyan Rival in Hunt for Growth in Congo
- Lender in talks with two targets in mineral-rich DR Congo
- Bank doubled first-half earnings to 15.3 billion shillings
Photographer: Marthe Bosuandole/AFP/Getty Images
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Kenya’s biggest bank by assets is in talks to acquire a lender in the Democratic Republic of Congo, the vast mineral-endowed central African country.
“We’re engaging with two institutions today that are in Congo,” KCB Group Ltd. Chief Executive Officer Joshua Oigara said in an interview on Thursday. The bank will settle on a single purchase, preferably one with a “national footprint, available in all provinces,” Oigara said, without giving more details.