Expansion into East Africa, a boon for banks, stakeholders and the region’s economy

Over the past two years, the financial services sector has weathered a variety of changes directly stemming from the impact of the Covid-19 pandemic across the region.

On one hand, the implications of measures aimed at limiting physical interactions decimated the number of bricks and mortar branches, which in turn led to the banks needing to restructure their human resource needs.

On the other hand, the growth of internet-based banking has accelerated the uptake of digital services by customers looking to stay safe as they move their money.

Banks also invested heavily in cybersecurity and risk mitigation strategies in a bid to protect their customers’ assets.

–  New Vision