Local banks knock off foreign dominance in Kenyan market: Shiv Arora, Head of Private Equity Real Estate, Cytonn Investments

Shiv Arora, Head of Private Equity Real Estate, Cytonn Investments

Kenyan banks have knocked off foreign dominance in the market posing a risk for the latter to exit the market if they fail to change their strategy.

This is according to a new banking report by Cytonn Investments which says foreign banks are struggling to adapt to African dynamics hence losing market to the local banks who understand the local market.

“Ten years ago, the only banks we knew were Barclays, Standard Chartered… some of these banks you could hardly even open an account with them, now, they are playing catch-up to local banks who have grown bigger than them,” said Cytonn Investment Head of Private Equity Real Estate Shiv Arora.

Read more: Local banks knock off foreign dominance in Kenyan market – Capital Business

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