{"id":12080,"date":"2012-07-04T00:12:12","date_gmt":"2012-07-03T22:12:12","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/bank-of-china-cleared-to-open-an-office-in-kenya\/"},"modified":"2012-07-04T00:12:12","modified_gmt":"2012-07-03T22:12:12","slug":"bank-of-china-cleared-to-open-an-office-in-kenya","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/bank-of-china-cleared-to-open-an-office-in-kenya\/","title":{"rendered":"Bank of China cleared to open an office in Kenya"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">NAIROBI, July 3<\/span> (Reuters) &#8211; The Central Bank of Kenya has<br \/>\ngranted Bank of China a license to open a<br \/>\nrepresentative office, a likely first step towards a full<br \/>\noperation in east Africa, the central bank said on Tuesday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Foreign lenders have been looking to set up operations in<br \/>\nKenya where collective industry profit jumped 20.4 percent last<br \/>\nyear to 89.3 billion shillings ($1.07 billion).<\/p>\n<p><span><\/span><\/p>\n<p>BOC, in which the Chinese Sovereign Wealth Fund holds a<br \/>\nsubstantial stake, is headquartered in Beijing, focusing on<br \/>\ncorporate and personal banking as well as investment banking.<\/p>\n<p><span><\/span><\/p>\n<p>It also has operations in other countries including South<br \/>\nAfrica and Zambia.<\/p>\n<p><span><\/span><\/p>\n<p>South African lender FirstRand plans to acquire a<br \/>\nmid-sized Kenyan bank, it said in May while opening its own<br \/>\nrepresentative office in Nairobi.<\/p>\n<p><span><\/span><\/p>\n<p>Chinese organisations are eyeing Nairobi as a base for a<br \/>\npush into Africa, with state broadcaster CCTV, basing its Africa<br \/>\nservice in the Kenyan capital last year.<\/p>\n<p><span><\/span><\/p>\n<p>The move caused a crisis in the local media industry as CCTV<br \/>\nlured dozens of on and off air personnel from local stations<br \/>\nwith higher pay.<\/p>\n<p> (Reporting by Duncan Miriri; Editing by Dan Lalor; Editing by<br \/>\nRichard Lough)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAIROBI, July 3 (Reuters) &#8211; The Central Bank of Kenya has granted Bank of China a license to open a representative office, a likely first step towards a full operation in east Africa, the central bank said on Tuesday. Foreign lenders have been looking to set up operations in Kenya where collective industry profit jumped [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12080","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12080"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12080\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}