Commercial Bank of Africa Ltd (CBA) is the largest privately owned bank in East Africa and has been operating for over 50 years. CBA was founded in Tanzania and branches were set up in Kenya and Uganda shortly thereafter.
CBA began as a subsidiary of Societe Financiere pour les pays D’Outre Mer (SFOM), a Swiss-based consortium bank. Other consortium members included Bank of America, Dresdnen Bank (now Commerzbank), Bank Bruxelles Lambert and Banque National de Paris.
In 1980, Bank of America bought out all of SFOM’s partners and restructured CBA to mirror their own systems and disciplines before selling its majority shares to local investors.
CBA has since developed a reputation as the go-to provider for large corporations, institutions, diplomatic missions, NGOs and high net-worth private clients.
However in 2011, CBA began a drive towards innovation in the banking space, pushing its product team to pioneer new developments that cater to a wider local audience. To date CBA has been first to market with full digital banking channels, first with M-Pesa and M-Pawa products, the first US dollar credit card in Kenya, the first 110% mortgage offering and the first foreign currency based mortgage provider.
As a world-class financial services provider, CBA offers clients a vast range of products and services that are both tailored to local needs and inspired by global innovation.