Kenya commercial bank will soon be the regional bank to start operation in Somalia.
The move is part of new economic and trade cooperation agreement between Somalia and Kenya.
President Uhuru Kenyatta and his Somalia counterpart President Hassan Sheikh Mohammud agreed to strengthen the economic cooperation during a bilateral held on the sideline of the 28th IGAD Extra-Ordinary Summit of Heads of State and Government held in Somali’s capital Mogadishu on 13th September 2016.
In a joint communiqué delivered by Amb Amina Mohamed, Cabinet Secretary for Foregn Affairs at the end of the talks, the two Heads of State agreed to promote trade between their two countries and remove all restrictive measures that hinder bilateral trade.
The leaders agreed to enhance financial services between the two countries by encouraging the establishment of a Kenya Commercial Bank branch in Mogadishu.
Kenya and Somalia will soon hold a Joint Commission on Cooperation JCC meeting to negotiate a visa regime between the two countries.
By Hassan Istiila
