Fifteen top businessmen from Goma, Eastern Democratic Republic of Congo (DRC), met members of the KCB Rwanda board last Thursday to press their case for the bank’s entry into DRC.
The businessmen, led by John Kanyoni, the president of the North Kivu Business Association, met KCB Group Chairman, Peter Muthoka and Chief Executive, Martin Oduor-Otieno among other board members appealed to them to establish a presence in Goma.
“Our businesses require a lot liquidity which is a big problem for us. We want KCB to open a branch in Goma to serve the North Kivu region,” said Kanyoni.
In response, Muthoka said the request would be brought before the Group Board for discussion at an appropriate time. The Board was taken on a tour of Goma and shown operations of several mining businesses in the city before holding discussions with the businessmen.
Meanwhile, KCB Rwanda has opened a new branch in the border town of Gisenyi, bringing to five the number of operational branches in the young KCB subsidiary.
The launch was presided over by the Governor of Western Province, Kabahizi Celestin who lauded KCB for its growing presence in Rwanda.
“KCB’s growing presence in Rwanda is a vote of confidence on our investment policies and is good for the East African Community as it gives us a unique financial platform to support economic development,” said Kabahizi.
The Governor commended KCB for choosing to invest in Rwanda, saying the country was putting in place the necessary infrastructure and policy framework to encourage foreign investment.
“We believe KCB’s expansion across Rwanda will make it possible for many Rwandese to access financial services much more conveniently,” he added.
KCB Group Chairman, Peter Muthoka, said the bank was keen to grow its branch network to cover key locations in the country and offer products that are relevant to the various economic activities in the country.
“The Central Bank of Rwanda has already approved two new branches at Remera and Kimironko while works are ongoing at Nyabugogo and Muhanga where an additional two branches will be located,” said Muthoka.
The Chairman lauded Rwanda’s favorable foreign investment climate and good regulatory environment saying it will encourage more intraregional investment.
The Mayor of Rubavu, Pierre Celestin Twagirayezu, who was also present urged KCB to support local businesses by extending competitive credit facilities.