The final frontier: Africa for brave investors
THE YOUTHFUL CHAMPION of Africa’s emerging banking sector, Ecobank, leaps again. In late July, the Togo-based firm agreed to acquire Nigeria’s Oceanic Bank. At group level, the deal could increase Ecobank’s pan-African assets and branch network by around 50%. Even within Nigeria, Ecobank’s domestic operations now look likely to rise from the middle to the top tier of the country’s domestic banks in terms of its asset book and branch network.
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