East Africa's Banking Race Fuels Wider Expansion

Pan-African banks, led by South African and Nigerian institutions, are aggressively expanding into East Africa through cross-border mergers and acquisitions to capture scale in the fragmented regional market, with Kenya as the principal battleground. Local incumbents like Equity Group and KCB Group defend their dominance through large retail bases and mobile money platforms, creating a competitive environment for market entry.

This Wire brief sits within Fusion42's coverage of Fintech.