Regional banks in Africa are developing internationally orientated and increasingly sophisticated transaction services platforms; often, as at Equity Bank, to service corporate and small and medium-sized enterprise clients trading across borders. Ecobank, meanwhile, is bolstering its business with partnerships including part-owners Qatar National Bank and Nedbank, as well as with regional telecoms companies and payments firms like Flutterwave.
But as a transaction services bank in Africa, especially sub-Saharan Africa – where the treasury and trade solutions business is headed by Esther Chibesa – Citi remains hard to beat.
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