East Africa’s top banks scramble for a piece of Congo’s market
KCB Group Plc Chairman Andrew Wambari Kairu and Oliver Meisenberg, the Chief Executive Officer Trust Merchant Bank (TMB) exchanging documents on August 2, 2022 during a ceremony where KCB signed a definitive agreement to acquire a majority stake at TMB.
East Africa’s top retail banks are scrambling for control of the Congolese market, going by the latest acquisitions.
KCB Group this week announced it had entered into an agreement to acquire 85 percent shareholding in Trust Merchant Bank (TMB), one of the DR Congo’s largest banks, with a deal for a full takeover after two years.
