Kenya’s NCBA Delays Ghana Digital-Banking Start to 2025
- Lender had wanted to start operations in Ghana this year
- Expansion will take lender’s operations to six countries
Signage for NCBA Group on an office building in Nairobi.
Photographer: Patrick Meinhardt/BloombergThis article is for subscribers only.
NCBA Group is postponing plans to roll out digital-banking services in Ghana to 2025 after regulators in the West African nation changed some rules and asked the lender to reapply, Group Chief Executive Officer John Gachora said.
The Kenyan lender had sought approval to operate in Ghana before the regulator amended some rules, “so we’re having to reapply,” Gachora said on Thursday. “As soon as we have those approvals — we get them this year — the intention is to launch next year.”