Banks prefer Uganda for expansion
30 October 2012, 19:06
Nairobi – Surveys conducted by the Standard Investment Bank in 2011 revealed that Uganda was the most preferred destination for most banks willing to expand in the East Africa Region.
Capital News reports that according to the survey – which was dubbed ‘Growing Influence of Regional Operations’ - Kenya was still weighed down by slow Growth Domestic Product (GDP) expansion, high volatility in inflation and high average debt-to-GDP ratio compared to Uganda.
Rwanda was ranked as the best country for any bank to venture into first when setting up regional operations, followed by Kenya, Uganda then Tanzania.
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