Absa Bank has been actively expanding, reaching 85 branches with the opening of its latest outlet in Rupa’s Mall, Eldoret. Customers in the town will have access to transactional accounts, savings accounts, deposit accounts, Shari’ah-compliant solutions, financial advisory services, and more.
According to the Central Bank of Kenya (CBK) 2023 annual report, 15 branches were opened in Nairobi, but the growing trend towards emerging and new growth areas was telling. While Kenya has a high level of financial inclusion over digital channels, it is interesting that rural areas are still underserved by the boutique options offered by a physical bank.
Eldoret, Kenya’s fifth-largest town, is known for its economic contribution through large-scale grain farming, dairy and horticultural farming, trade and commerce. The town also has an expansive manufacturing sector, a booming hospitality and tourism sector, and a rapidly growing SME sector.
With this expansion, the bank aims to accelerate its customer-centric approach by increasing its physical presence through the opening of additional branches. This will leverage digital capabilities, and enhance its agency banking network, while ensuring uninterrupted service delivery while driving financial inclusion.
Speaking at the new branch opening in Eldoret, Absa Bank MD and CEO Abdi Mohammed said, “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 under-banked.”
Mohamed highlighted that the lender’s strategy is to extend banking services to the growing business community in the region and offer enhanced customer experience to its customers. The bank aims to empower Africa’s tomorrow together, one story at a time.