Invest in Africa (digital - reduced)

AFRICA’S ECONOMIC DEVELOPMENT
iStock photo
Expanding financial
services in Africa
Bisi Lamikanra looks at the benefits of the
expansion of pan-African banks and how
international collaboration can drive the
development of economic services.
The cross-border expansion of
Africa-based banks has become
a dominant trend in the
continent’s banking landscape.
Previously, banks were primarily
domestic, but over the last
decade, there has been a rapid expansion by
banks across the region. The pan-African
expansion, has been largely influenced by the
improving macroeconomic conditions; banks’
strategic push for growth and diversification of
earnings; growth of African businesses into
new markets in the regions; and existing
opportunities in the unbanked population.
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