When Abhinav Nehra, the CEO of CIB Kenya, talks about banking, he doesn’t dwell on balance sheets or capital adequacy ratios. Instead, he paints a picture of a tea farmer in Kericho who exports to Egypt but struggles with delayed payments, or a student heading abroad whose parents face endless paperwork to transfer tuition fees.
“These are the stories we want to change,” he says. “Banking should make life easier, not harder.” Commercial International Bank (CIB) Kenya is charting an ambitious path to shake up Kenya’s banking sector, leaning on digital-first services, cash flow–based lending, and Egypt–Kenya trade financing as its competitive edge.
The lender, which rebranded from Mayfair Bank after Egypt’s largest private lender took full control in 2023, is positioning itself as a pan-African hub anchored in Nairobi. Its parent, CIB Egypt, is Africa’s third most profitable bank, posting a net profit of US$1 billion in 2023, with projections for $1.5 billion in 2024. That balance sheet muscle is underwriting Kenya’s expansion.
“Banking must feel personal, not transactional.”
Abhinav Nehra
“Our ambition is not just to succeed in Kenya but to build this into a pan-African hub,” Abhinav Nehra said, during an interview with The Kenyan Wall Street.
“The group has committed capital far beyond regulatory requirements, not just to meet compliance but to strategically support economic growth and trade between Egypt and Kenya.”
CIB Kenya currently operates four branches in Nairobi and two in Mombasa and Eldoret respectively. Unlike rivals racing to expand physical networks, the bank is prioritising digital infrastructure. It is replicating Egypt’s deployment of the Temenos T24 core banking system, which allows modular upgrades and rapid rollout of new products.
“Africa doesn’t need hundreds of costly branches. Once the brand is established, the real game is in digital banking,” Nehra noted, signalling a shift from traditional banking playbooks.
Cash Flow, and Why CIB is Betting on Prepaid Cards
Perhaps the boldest bet is CIB Kenya’s plan to grow aggressively using cash flow, based lending instead of asset-backed financing. The bank is targeting SMEs that have reliable earnings but lack collateral.
“Africa’s backbone is SMEs. Many have vibrant cash flows but no property titles. Our model is to fund them based on performance, not collateral,” said Nehra, adding that the model has worked in Egypt.
If successful, this could significantly widen credit access for businesses typically locked out by Kenya’s conservative lending standards.
CIB Kenya is also introducing prepaid cards tailored for education, health, tourism, and trade. Nehra argues prepaid cards are underdeveloped in Kenya despite being mainstream elsewhere.
“Imagine tourists arriving at JKIA, completing Know Your Customer (KYC), and walking away with a loaded prepaid card. It solves the hassle of currency exchange,” he said.
The lender has also launched a daily-interest savings account designed to attract a new class of retail depositors seeking instant returns.
The Five-Star Branch Experience
Trade financing is another key plank of CIB Kenya’s growth strategy. Egypt is the largest buyer of Kenyan tea, and CIB already counts major tea exporters among its clients. The bank has also facilitated cross-border partnerships between Kenyan and Egyptian manufacturers, enabling local production and market access in both countries.
“We want to support businesses trading across COMESA, not just in Kenya. That’s where the synergies with Egypt are strongest,” said Naira.
Beyond products, CIB Kenya is importing Egypt’s emphasis on customer service. In Cairo, the lender is known for hiring staff from the hospitality industry to deliver what it calls “five-star branch experiences.”
“That’s the journey we want to replicate in Kenya. Banking must feel personal, not transactional,” Naira said.
As CIB Egypt marks its 50th anniversary this year, the Nairobi venture signals a broader African ambition. Institutional investors are backing the expansion, underscoring that this is not a short-term play.
“Our role here is not just to lend but to support Kenya’s economic ambitions, deepen Egypt–Kenya trade, and build a pan-African banking story,” Nehra said.
With capital headroom, a differentiated lending model, and the parent bank’s clout, CIB Kenya is betting it can challenge entrenched multinationals and local giants alike, by proving that Africa’s next banking revolution may not be asset-backed, but cash flow, driven.
