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Kenyan Lender NCBA Plans African Expansion With Digital Banking

  • NCBA targets to begin lending in Ghana in first half of 2023
  • Bank’s nine-months net income climbs as forex earnings jump
A market bazaar in Nairobi.

A market bazaar in Nairobi.

Photographer: Tony Karumba/AFP/Getty Images

NCBA Group Plc plans to expand into eight African markets using mobile and digital banking, a model that’s disrupting traditional financial systems.

The Kenyan lender, which introduced a mobile-phone based savings and credit product dubbed Mshwari a decade ago, has joined up with a financial institution in Ghana where it’s awaiting a license to begin lending, Chief Executive Officer John Gachora said in an interview without giving further details.