Rwanda’s Central Bank has announced that it is in the final stages of licensing a Kenya’s Commercial Bank of Africa (CBA) to operate in the country as a micro-finance institution.
“CBA Group is likely to begin operations in early 2017.” Rwanda’s central bank governor John Rwangombwa was quoted by various Rwandan media houses.
CBA Group joins Kenya Commercial Bank(KCB), Equity and I&M; the other Kenyan banks operating in the Rwandan Market.
In recent years, CBA has been seen to embrace innovation through multiple products and expansion across multiple markets particularly through the Mshwari mobile Loan product.
The Bank recently announced that it plans to launch the Mshwari mobile loans product in Ivory Coast in the third quarter of 2017 through a partnership with MTN group.
