Region’s elite have stashed away over $700m in Swiss bank accounts
Saturday February 14 2015
People walk along the corridors outside the HSBC building in Singapore. PHOTO | FILE
Kenya leads in East Africa in having the largest dollar amount deposited in HSBC’s Switzerland-based private banking arm, with 238 Kenyans collectively holding $559 million in 1,093 bank accounts.
In Tanzania, 99 HSBC clients hold $117 million in 286 accounts, while 57 Ugandans hold $89.3 million in 212 bank accounts. Burundi comes fourth in the region with 14 individuals holding $30.2 million in 32 Swiss accounts.
Rwanda has the least dollar amount deposited at HSBC — only two clients, none of whom hold citizenship, hold $2.1 million.