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KCB joins race of financing Sh3.5 trillion DRC deals

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Trust Merchant Bank SA (TMB) CEO Oliver Meisenberg (left), KCB Group Chairman Andrew Wambari Kairu (centre) and Central Bank of Kenya Governor Patrick Njoroge  at the Nairobi Serena on December 19, 2022. PHOTO | DIANA NGILA | NMG

By  Dominic Omondi

Business Reporter

Nation Media Group

KCB has joined Equity Bank in the scramble for the financing of Sh3.5 trillion trade deals in the Democratic Republic of the Congo as the banking supremacy battle goes regional.

On Monday, KCB announced the completion of the acquisition of DRC’s Trust Merchant Bank SA (TMB) for a value estimated at more than Sh15 billion, giving the bank a toehold in the vast mineral-endowed central African country.

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