JPMorgan Chase CEO Jamie Dimon is about to go to Africa in mid-October as a part of the financial institution’s technique to broaden its presence on the continent. This shall be Dimon’s first journey to Africa in seven years, throughout which he plans to go to Kenya, Nigeria, South Africa, and the Ivory Coast. Presently, JPMorgan has places of work in Nigeria and South Africa, the place it presents a number of providers, together with wealth administration in addition to industrial and funding banking. The financial institution has been eyeing new markets, with Dimon having introduced plans to enter Kenya and Ghana in 2018. Nonetheless, regulatory challenges in each nations have delayed its entry. Dimon’s deliberate go to underscores JPMorgan’s concentrate on increasing in worldwide markets, notably in Africa, the place world banks are looking for a bigger function in sovereign debt and company transactions.
SOURCE: REUTERS