The banking sector in Africa is largely untapped. Only 20 percent of families on the continent have access to formal bank accounts. This presents a potentially rich market as both foreign and local banks continue making in-roads to tap into this demographic.
banks in West Africa. It has 1,305 branches in 36 countries across Africa,making the leading pan-African bank on the continent.
Ecobank Transnational Inc.
It was founded in 1985 in Lome, Togo. Ecobank Transnational Inc. is the biggest bank in West and Central Africa. It was formed as a commercial bank to reduce the dominance of foreign and state-owned.
It was founded on October 15, 1862 in South Africa as The Standard Bank of South Africa. Standard Bank Group was initially a subsidiary of Standard Bank of Britain. It operates in 19 African countries. Standard Bank Group is the largest bank in Africa by asset value. It won the Risk Emerging Markets Dealer of the Year in 2016.
Barclays Africa Group
It started its operations in Africa in 1925 as a subsidiary of Barclays Bank Plc of Britain. It has 1,267 branches in 12 countries across the continent. These are Kenya, Botswana, Ghana, Mauritius, Mozambique, Namibia, Nigeria, Seychelles, South Africa, Tanzania, Uganda and Zambia. The bank is set to exit operations in Africa by selling its 62 percent stake on the continent.
ICB Banking Group
It was founded in 1994 in Schindellegi, Switzerland. It set up its first subsidiary in Africa in Ghana in 1996. It currently has subsidiaries in ten African countries. These are Djibouti, Gambia, Malawi, Senegal, Mozambique, Zambia, Sierra Leone, Ghana, Guinea and Tanzania. Each of these subsidiaries operates as a local banking entity in its host country.
Bank of Africa
It was launched in 1982 as a multi-national banking conglomerate. Bank of Africa has its headquarters in Bamako, Mali. It operates in 17 countries across Africa. These are Benin, Ivory Coast, Mali, Burkina Faso, Ghana, Niger, Togo, Senegal (West Africa), Madagascar, Democratic Republic of Congo, Burundi, Djibouti, Ethiopia, Kenya, Tanzania, Uganda. It has a subsidiary in Morocco that is owned by BMCE Bank. It also has operations in France.
CitiBank
Citibank It was founded on June 16, 1812 in New York, United States of America. It is owned by Citigroup Inc. In Africa, Citibank has subsidiaries ten countries. These are; Zambia, Uganda, Tunisia, Tanzania, South Africa, Senegal, Nigeria, Morocco, Kenya and Ghana.
Equity Bank
It was founded in 2014 in Nairobi, Kenya. It is owned by Equity Group Holdings Limited. Equity Bank currently operates in Kenya, Uganda, Tanzania, Rwanda and South Sudan. In September 2015, it successfully acquired ProCredit Bank Congo in the Democratic Republic of Congo. In 2014, the bank was the largest bank in Africa in terms of customers, with of more than 8.7 million people banking with it. The bank plans to expand into Burundi, Zambia, Zimbabwe, Malawi, Mozambique, Botswana, Ghana, Nigeria and Ethiopia over the next 10 years.
Access Bank Plc
It was founded in 1988 in Lagos, Nigeria. Access Bank is a Nigerian bank owned by Access Bank Group. It has subsidiaries in Gambia, Ghana, Democratic Republic of Congo, Nigeria, Rwanda, Sierra Leone and Zambia. Access Bank Plc has more than six million customers across Africa.
Commercial Bank of Africa
The bank was formed in 1962 in Dar es Salaam. Commercial Bank of Africa is one of the biggest privately-owned banks in East Africa. It has its headquarters in Nairobi, Kenya. It has subsidiaries in Rwanda, Uganda, Kenya and Tanzania.
Zenith Bank Plc
It was formed in May 1990 in Lagos Nigeria. Zenith Bank Plc is one of the biggest banks in Africa’s largest economy. It has subsidiaries in Ghana, Sierra Leone, Gambia, South Africa and Kenya.
Source: afkinsider.com/
