JUBA — The National Bank of Egypt (NBE) is opening its South Sudan subsidiary on Tuesday in Juba, the Egyptian embassy announces.
The bank first got its approval in May 2021.
The South Sudanese branch is part of NBE’s plans to boost international operations, Yehia Aboul Fotouh, deputy chairman of NBE, told local the press at the time.
In a statement, the Egyptian Embassy in Juba said the opening will take place on Tuesday in central Juba near the central bank of South Sudan.
“Launching of the first Egyptian Bank in South Sudan ‘National Bank of Egypt – Juba’ will be on Tuesday, 28th of June 2022,” the embassy statement reads in part.
“The bank is located in Juba town, next to Bank of South Sudan,” the embassy statement further added.