Kenya smallholder tea farmers earn Sh63.6 billion from tea exports
CBK grants authority to Rabobank Nederland of Netherlands to open office in Kenya
By TF News Reporter
The Central Bank of Kenya (CBK) has granted authority to Rabobank to open a Representative Office in Kenya. The authority was granted pursuant to Section 43 of the Banking Act.
Rabobank Nederland is a cooperative bank owned by local cooperatives in Netherlands. Apart from offering financial services to its member cooperatives, Rabobank Nederland, which is licensed and supervised by the Central Bank of Netherlands (De Nederlandsche Bank), also offers universal banking services to the public.
Rabobank has presence in 43 countries across Europe, Asia, South America and Africa. In Africa, Rabobank has invested through local banks in Zambia, Tanzania, Rwanda and Mozambique
According to CBK, Rabobank Nederland Representative Office in Kenya will discharges its marketing and liaison roles and also undertakes market research to explore business opportunities to inform the long -term strategy of the bank in Kenya and the region.
The Representative Office is also expected to support and deepen the growing trade relationship between Kenya and Netherlands.