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Kenya-based KCB Group expanding operations in South Sudan

KCB Group PLC is looking to expand in South Sudan by focusing on increasing its investments there, Reuters reported Aug. 9, citing KCB Managing Director Roba Waqo Jaldesa.

The lender intends to launch mobile banking and increase the number of individual customers it has to more than 200,000 from 122,000 by the end of 2020, the report said.

KCB, which shut down 12 of its 23 branches in the country in 2016 and 2017 during a civil war, launched a new branch in 2019 and is aiming to resume operations in its closed offices, the report said.

"We have enough capital to invest in the market, both in terms of brick and mortar and also technology," Jaldesa told reporters in the country's capital, Juba.