Kenya's Safaricom, KCB look north as Ethiopia opens market
Safaricom Limited's headquarters, Nairobi. The Kenyan telco and regional lender KCB Group are on course to establishing operations in neighbouring Ethiopia. PHOTO FILE | NMG
Two of Kenya’s largest blue chip companies, regional lender KCB Group and giant telco Safaricom, are on course to establishing operations in neighbouring Ethiopia where reformist Prime Minister Abiy Ahmed is opening up the economy, creating opportunity for daring foreign investors.
KCB on Wednesday said it is preparing to enter the market of 100 million people through a partnership with an Ethiopian bank or opening a fully fledged subsidiary in the country, which currently has no foreign bank.
