BK Group Plc has announced the closure of its representative office in Kenya effective April 24, 2024.
The announcement, made via a press release on April 8th, comes as part of the group’s broader digital transformation strategy to optimize operations. While the physical presence in Kenya will be shuttered, the company will maintain its cross-listing on the Nairobi Securities Exchange and continue serving Kenyan clients through its digital channels.
“This decision supports BK Group Plc.’s commitment to optimizing operations as part of its digital transformation strategy,” the press release states.
Christa Sangwa, the acting Chief Representative Officer and Head of Investor Relations at BK Group Plc., sought to reassure the company’s banking clients in Kenya during this transition.
“We are dedicated to ensuring a smooth transition for our banking clients during this process and hereby assure them of continuity in service,” Sangwa said. “We encourage our banking clients to get in touch with their relationship managers or reach out to Bank of Kigali’s customer service and operations departments for assistance and to address any inquiries regarding this transition.”
The closure of the representative office marks the end of a 12-year presence for BK Group in the Kenyan market. The office was established in 2012 following authorization by the Central Bank of Kenya, as the Rwandan financial giant looked to expand its footprint across East Africa.
Despite the shuttering of its physical office, BK Group has assured customers that it remains committed to the Kenyan market through its digital offerings. The company has encouraged clients to utilize its online platforms and customer service channels for all their banking needs going forward.
The BK Group Plc. is a leading financial services firm based in Rwanda, with a presence on both the Rwanda Stock Exchange and the Nairobi Securities Exchange. The group boasts a short-term credit rating of A1+ and a long-term rating of AA, with a stable outlook, from Global Credit Rating.
