Foreign banks tweak operating models in battle for East African retail market
A Stanbic Kenya women's day event in Nairobi on March 2, 2022. The lender, through the Dare to Aspire Dare to Achieve (Dada) platform, has committed Ksh20 billion ($145.93 million) to finance women. PHOTO | NMG
Foreign banks have been roped into the battle for the control of East Africa’s retail market, which has been tipped to be the new frontier for money minting by lenders seeking to bolster earnings and protect market share.
Foreign multinational banking giants that previously thrived on doing business with large corporates and high net worth individual clients are gradually tweaking their operating models in favour of the once-shunned and neglected small businesses and individual customers.
