NAIROBI, Kenya Jul 31 – Absa Bank has embarked on a brand expansion strategy targeting regional towns for new growth.
Absa Bank Managing Director and Chief Executive Officer (CEO) Abdi Mohamed noted that the lender, which has been actively expanding, reaching 85 branches with the opening of its latest outlet in Rupa’s Mall, Eldoret, will enable customers to access transactional accounts, savings accounts, deposit accounts, Shari’ah-compliant solutions, and financial advisory services.
“We are happy to open our doors to the people of Eldoret and the larger Rift region with our second branch in Eldoret. This is part of our ongoing commitment to enhancing customer experience and expanding our footprint to serve the underbanked,” said Mohamed Absa Bank CEO.
Mohamed highlighted that the bank’s strategy is to extend banking services to the growing business community in the Rift Valley region, offering enhanced customer experience to the underserved population in rural areas.
Eldoret, Kenya’s fifth-largest town, is known for its economic contribution through large-scale grain farming, dairy and horticultural farming, trade and commerce, an expansive manufacturing sector, a booming hospitality and tourism sector, and a rapidly growing micro, small, and medium sector.
Its growing real estate offers banks lucrative locations in business hubs like Rupa’s Mall, an expansive development spread out on 8.5 acres that hosts a supermarket, restaurants, offices, banks, cinema theater, children’s play area, and water park, as well as regular retail shops and boutiques.
The mall’s strategic location offers the lender a steady footfall seeking a one-stop shop for all investment, banking, and trading needs for customers in the region, providing a full bouquet of services across retail banking, corporate and investment banking, and business banking.
The Rupa’s Mall branch targets the ever-growing consumer and business markets in Eldoret and its environs and will offer diverse services, including forex exchange, money transfer, bill payment, and digital services, among others.
With this expansion, the bank aims to accelerate its customer-centric approach by increasing its physical presence through the opening of additional branches, leveraging digital capabilities, and enhancing its agency banking network.
