Ethiopia: Kenya’s KCB Eyes Entry Into Ethiopia’s Banking Sector

ADDIS ABABA — Kenya Commercial Bank (KCB) is in negotiations with Ethiopia’s central bank to acquire a stake in a local financial institution, CEO Paul Russo revealed in an interview with The Africa Report.

Paul, who had earlier told The Ethiopian Herald in May that Ethiopia’s financial sector was undergoing “visible transformation,” reaffirmed his bank’s interest in expanding into one of Africa’s most closely watched markets.

The CEO said KCB is exploring the possibility of entering Ethiopia…