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Africa’s biggest banks are rushing into the Democratic Republic of Congo, lured by rapid economic growth, soaring mining revenues, and some of the highest banking returns on the continent. Lenders from Kenya, Nigeria, Tanzania, and South Africa have expanded across Kinshasa and Lubumbashi, chasing untapped markets where fewer than 10% of Congolese have bank accounts. Kenya’s Equity Group and KCB lead the charge, while South Africa’s Absa and Nigeria’s Fidelity are eyeing entry. With returns on equity averaging 25–30%, the sector offers rich rewards despite the ongoing conflict in its eastern region. Yet, analysts warn that the banking boom favors large corporations over everyday citizens, raising questions about whether this growth will truly broaden financial access.
SEMAFOR