Bank of Kigali to open regional branches
The Bank of Kigali has announced plans to open branches in regional countries.Head of Small to Medium-Sized Enterprises at the financial institution Jean Pierre Iyamuremye explained the organisation wants to expand its presence in the Huye District of Rwanda, the New Times reports.
"We want to increase the number of our customers and compete with other financial institutions regionally. This will happen soon," he stated.
Mr Iyamuremye added people would not be surprised to hear of the bank opening a branch in Kampala in Uganda or Nairobi in Kenya, so it wants to establish itself in other locations.
He discussed the matter at a meeting held last week (March 22nd) to gain feedback from the Bank of Kigali's customers.
This move could help to support Regional Financial Integration (RFI), which improves financial links between different locations and supports cross-border investments.
Furthermore, because so many African markets are small and fragmented, RFI could improve competition and innovation within the sector, as well as increasing the number of financial institutions available to citizens.