DRC – Nigeria: Why are Lagos bankers struggling in Kinshasa?

By Joël Té-Léssia Assoko
Posted on Thursday, 19 January 2023 10:40, updated on Friday, 20 January 2023 16:17

The headquarters of BCDC, located on Boulevard du 30 Juin, the main artery of the commune of Gombe, in Kinshasa, March 13, 2020. © Gwenn Dubourthoumieu for JA

Despite having spent a decade in the DRC, Nigerian bankers are struggling to make their mark, contrary to their Kenyan counterparts.

In Kinshasa, Kenyan bankers appear to prefer the 110 metre hurdles to endurance races. In mid-December, Kenya Commercial Bank Group (KCB) completed the acquisition of an 85% stake in third-ranked Trust Merchant Bank for about $120m (€110.7m).