(Bloomberg) -- NCBA Group is postponing plans to roll out digital-banking services in Ghana to 2025 after regulators in the West African nation changed some rules and asked the lender to reapply, Group Chief Executive Officer John Gachora said.
The Kenyan lender had sought approval to operate in Ghana before the regulator amended some rules, “so we’re having to reapply,” Gachora said on Thursday. “As soon as we have those approvals — we get them this year — the intention is to launch next year.”
NCBA had worked toward rolling out online banking in Ghana toward the end of this year. The move would extend its footprint to six African nations and make it the first Kenyan lender to operate in the West African country.
The bank wants to replicate the success it has had in Ivory Coast, where it has seen “very good growth” in digital and microfinance offerings, Gachora said.
NCBA’s profit rose 5% to 9.82 billion shillings ($76 million) in the six months ended June 30 from a year earlier, with return on equity crossing the 20% mark, Chief Finance Officer David Abwoga said.
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