Sometimes, the most transformative business decisions begin with the simplest experiences. For Hisham Ezz Al-Arab, the CEO of Egypt’s largest lender, Commercial International Bank (CIB), that moment came during a humble tuk-tuk ride through the bustling streets of Nairobi.
Initially visiting Kenya in 2018 for leisure, Hisham was struck by the warmth of its people and the vibrancy of its culture. Together with a young employee, he hopped on a tuk-tuk, whose jovial driver introduced them to Nairobi’s charm from fresh avocado and tomato dishes in Eastleigh to stories of everyday life in the city. The experience left a lasting impression.
“I came back to Egypt and told my people, ‘You will love it there,’” Hisham recalled. The similarities between Nairobi’s buzzing energy and Cairo’s bustling streets reinforced his belief that Kenya held enormous economic potential.
That realization would lead to CIB’s acquisition of Mayfair Bank, partly owned by politician Peter Kenneth. While CIB had already set up a representative office in Ethiopia, Kenya stood out as the better gateway to East Africa offering a larger population, English-speaking market, and an educated workforce.
Beyond expansion, Hisham envisioned transforming Kenya’s banking culture. Instead of the traditional asset-backed lending, CIB plans to introduce cash-flow lending empowering businesses with strong operations but limited collateral. “We want to create a new legacy,” he said, emphasizing the need for inclusive credit that fuels growth.
Hisham also outlined CIB’s broader ambitions: to use Kenya as a launchpad for regional growth, expanding into Tanzania, Rwanda, and beyond. The bank aims to grow into a tier-two player within five years, with digital banking and blockchain technology at the core of its strategy.
For Hisham, the decision was about more than profit. It was about legacy redefining banking in East Africa and creating opportunities for businesses to thrive. And it all began with a tuk-tuk ride in Nairobi.
