Speaking at the official launch of the Banks 17th branch, the bank’s Chief Executive Officer David Wachira announced, “we have introduced a technology that allows customers to access their accounts, withdraw money and put it in their mobile device so they can transact any business deals from the comfort of any location.
The branch at Taj Shopping Mall, a new upscale development in Embakasi, is a strategic attempt to penetrate the country’s largest constituency by serving the vibrant industrial, residential and Small and Medium Enterprise (SME) community that boasts a population of over 925,000 people.
The Embakasi branch has been in service since December, but with its official launch it expects to target the numerous Savings and Credit Co-operatives (SACCOs) in the wider industrial area economic zone as well as those within the Jomo Kenyatta International Airport (JKIA) locale.
Chairman Eunice Kagane acknowledged that the banks presence in Embakasi was motivated by their desire to provide communities that are growing and have limited access to financial services with more banking opportunities.
“Embakasi is huge and is expected to grow even further, due to the steady infrastructure and property development as well as the ongoing JKIA expansion,” she stated.
“The eastern bypass emanating from Embakasi to Ruiru has also spurred development along its path opening up even more investment opportunities for various traders including transport, gas stations, supermarkets, schools and other much needed amenities,” she added.
Branch Manager Sylvester Mwangangi confirmed that after a top-line needs assessment survey, the Embakasi team realized that Consolidated Bank was well equipped to comprehensively provide the surrounding businesses and residents complementary services from their wide product offering.
“We have also introduced our flagship Institutional Account product which will appeal to organizations such as SACCOs, or even schools and colleges, which are looking for more affordable banking,” he acknowledged.
Managing Director and CEO of Kenya Airways Titus Naikuni who was the chief guest lauded the management of the new bank but warned them about allowing tribalism in the office to effect the quality of their work, before advising the ownership of the Bank to expand beyond Kenya’s borders.
“Please get out of the prison of Kenya,” he declared.
“The boundaries of Kenya are a prison in the minds of business people and they need to get out. Africa is wanting in a lot of services that Kenya has a surplus of and one of them is banking, so get out of Kenya as Consolidated Bank because there’s huge potential out there and the skill base you have as a bank in this country is enough to be shared with the rest of Africa,” he emphasised.