Kenya-based lender CfC Stanbic has, reportedly, suspended its plans to expand business in South Sudan, following the disruptive violence and political unrest in the region.

CfC Stanbic CEO, Greg Brackenridge, was quoted by The Star as saying that following the investor briefing in Nairobi, the bank had shelved its advanced plans to spread out of capital Juba following disruptions after last November fallout between President Salva Kiir and his former vice Riek Machar.

"Our business in Juba was not affected because it has largely been peaceful.

"We had targeted other states especially those around the border with Uganda but the violence was disruptive to our plans," Brackenridge added.

According to Brackenridge, the CfC accounted for about 15% of revenues to loss making personal and banking business (PBB) division.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.