MACIG Connect Series
Rawbank has grown rapidly since it began business in 2002 to become one of the largest banks in DRC and has an active participation with the mining sector.
Rawbank is celebrating its 15th year since it began in DRC in 2002. Can you give me a brief history of Rawbank, including any recent milestones the company has achieved?
We have been operating in the Grand Katanga (formerly Katanga zone) for 10 years and have since become the largest bank in terms of market share operating in DRC with a balance sheet of over $1 billion. The bank started by developing in three main markets: retail, corporate and private banking. The level of banking among the population was very low so Rawbank was interested to develop the retail and corporate market to increase the entrepreneurial spirit of the people and develop the economy. Due to the development of these two markets the private banking market also increased as a different economical class of people was created that wanted a banking product that effectively represented their standard of life. Foreign investments are also important in DRC, so Rawbank has developed the profiles of our employees to include English and Chinese speaking staff to target the clients currently investing in the country. Going forward, the growth strategy of Rawbank is to become the main bank responsible for international investments in DRC.
How important is the mining sector as a client to Rawbank and what role do you see the company playing in the sector in the future? Continue reading