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Trade data reveals a steady increase in trade volume between Egypt and Kenya, reaching USD 663.6 million in 2022
Egypt’s largest private-sector listed bank, the Commercial International Bank (CIB), is gearing up to bolster trade relations with East Africa. In that pursuit of the Egyptian bank, Kenya will be serving as its launch pad into the Sub-Saharan region.
In January 2023, CIB Group finalized the acquisition of Mayfair CIB Bank Limited in Kenya, obtaining full ownership after regulatory approval. Since then, CIB has strengthened the Kenya unit, turning it profitable and expanding its branch network.
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Trade data reveals a steady increase in trade volume between Egypt and Kenya, reaching USD 663.6 million in 2022. Key imports from Kenya to Egypt include coffee and tea, while Egypt exports paper, plastics, and sugar products to Kenya. Egypt is the second largest importer of Kenyan tea valued at USD 243.38 Million during 2022, according to the United Nations COMTRADE database on international trade.
