South Sudan

DRC Bank Unveils Plans To Invest In Uganda, South Sudan

link geneva;”>Mr. Mustafa Rawji, order the bank’s Director and head of marketing described the investment opportunities in South Sudan as being enormous.

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He said joining South Sudan’s banking market is high on their agenda as they step up efforts to regionalize the bank.

According to Mr. Rawji, Congo Brazzaville, Uganda and South Africa are countries that the bank hopes to cover.

“What made as a leading post-conflict bank in the DRC is, we were able to adopt our financial products to the needs of the realities of the local market”, explained Mr. Rawji after an exploratory visit to South Sudan’s capital Juba on May 20.

Since it opened its first doors in 2002, Rawbank, has reportedly grown to become the biggest bank in DRC in terms of total assets and total deposits. The bank currently comprises of 40 branches all over DRC, with about 50 Automatic Teller Machines (ATMs).

Mr Rawji said as a post-conflict country, South Sudan’s challenges are not different from what DRC experienced ten years ago. “We have developed a favorable opinion on investing here considering the realities on the ground. Though the final decision will have to be reached by the Bank’s board of Directors”, he said.

He said the bank has tailored products such as “Ladies First” which he said was able to produce the greatest number of women entrepreneurs in the DRC.

The delegation led by the Bank’s CEO Thierry Taeymans who described the visit as “successful ” held meetings among government representatives with the standing Committee on Economic and Financial Affairs, the Presidential Adviser on Economic Affairs as well as the Deputy Governor of South Sudan Central Bank.

They also held meetings with the World Bank as well as the International Finical Corporation (IFC), a member of World Bank that offers investment, advisory, and asset management services to encourage private sector development in developing countries.

Mr. Rawji commended the level of cooperation his group received from the IFC in coordinating and introducing them to the “right people with the right information”. “If it was not because of the World Bank and IFC, these three days would have not been so successful”, said Rwaji.


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