Egypt’s Banque Misr to set up presence in Somalia, Kenya, and Côte d’Ivoire

Egypt’s second largest bank, state-owned Banque Misr is planning further expansion but this time in Africa by inaugurating three representative offices in the coming two years.

The bank seeks to set up the representative offices in Somalia, Kenya, and Côte d’Ivoire in the coming two years, Banque Misr’s vice chairman Akef El Maghraby told Amwal Al Ghad on Saturday.

The new expansion comes in line with the Egyptian government’s national plan to boost trade exchange and promote exports to the African markets, El Maghraby noted.

Banque Misr has recently opened its representative office in China in Guangzhou city, aiming to help promote trade and financial activities between the two countries.