US banking giant JPMorgan Chase gets Kenya entry nod

JP Morgan Chase headquarters on Park Avenue in New York. 

Photo credit: File | AFP

American banking conglomerate JPMorgan Chase, one of the world’s largest banks, has finally secured a green light to open a representative office in Kenya, nearly 12 years after first disclosing the plans.

The Central Bank of Kenya (CBK) on Monday announced that the US banking giant can start Kenya operations as it seeks a wide presence in Africa.