The Central Bank of Kenya (CBK) has granted authority to French multinational banking and financial services company Société Générale (SG) to open a Representative Office in Kenya, marking its maiden entry into East Africa.
SG is one of the leading European financial services group. Headquartered in Paris, it operates in the core business segments of French Retail Banking; International Retail Banking and Financial Services; and Global Banking and Investor Solutions.
The Representative Office will serve as marketing and liaison office as the bank is not licensed to conduct banking business in Kenya.
It is expected to support the growing trade and investment links between Kenya and France while expanding SG’s regional footprint with Kenya as its anchor in Eastern Africa.
In the continent, Société Générale has a presence in 18 countries across North, West, Central and South Africa.