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Banks flock to Gikomba

Booming business at Gikomba market is attracting financial institutions.

Several banks are opening branches near the market  and offering services to  traders.

Gikomba market hosts many businesses including those dealing in clothes, furniture, food and curios.

So far, the market has attracted seven banks with possibility of more being opened. The ones that have opened branches there include Barclays, Cooperative, Equity  KCB, Family, CFC, Stanbic and Fina.

Jeremiah Mutiso, who has been running a furniture business for more than five years in the area, said scarcity of banks meant many traders kept money in their houses.

“Many thought one could only qualify to have a bank account if they were formally employed. Almost everyone here now has an account,” he said.