Banks explore opportunities in virgin market

Banks are increasingly turning to southern Sudan to tap the huge unbanked population, following the return of peace there.

In a media statement, Managing director of Kenya Commercial Bank (KCB) James Agin said Sudan presents a raw opportunity for the industry, particularly because of the increase in trade between Uganda and Sudan.

KCB now has four branches in Sudan and 10 ATM's located in Rumbek, Juba, Bentiu and Yei.

"Traders from both countries will not need to carry huge sums of money anymore, we can do that for them and at their convenience," said Agin.

The government of South Sudan announced that due to its growing network, KCB would be its sole tax collection agent.

Equity Bank also has a branch in Juba.

Source:http://www.tradeinvestafrica.com/news/173184.htm