Kenya’s largest privately owned bank, Commercial Bank of Africa (CBA) has officially started its banking operations in Rwanda following the successful acquisition of Crane Bank Rwanda Ltd, now re-launched as CBA Rwanda Limited.
The move into Rwanda, increases CBA’s footprint in the continent, to five countries, which include Tanzania, Uganda, Ivory Coast and Kenya where the 56-year-old bank has its headquarters.
CBA’s journey into Rwanda’s financial market started in February 2017, when the bank partnered with MTN Rwanda to launch “MoKash,” a mobile banking and credit product similar to M-Shwari in Kenya. The product currently has 700,000 customers, in Rwanda, which has a population of 12 million people.
In Rwanda, CBA bank will initially operate three branches, with the head office branch located at Kigali Heights, and 2 other branches located at Labonne Address and Downtown Kigali respectively.
