JPMorgan Chase CEO Jamie Dimon is set to visit Africa in mid-October as part of the bank’s strategy to expand its presence on the continent. This will be Dimon’s first trip to Africa in seven years, during which he plans to visit Kenya, Nigeria, South Africa, and the Ivory Coast. Currently, JPMorgan has offices in Nigeria and South Africa, where it offers a host of services, including wealth management as well as commercial and investment banking. The bank has been eyeing new markets, with Dimon having announced plans to enter Kenya and Ghana in 2018. However, regulatory challenges in both countries have delayed its entry. Dimon’s planned visit underscores JPMorgan’s focus on expanding in international markets, particularly in Africa, where global banks are seeking a larger role in sovereign debt and corporate transactions.
SOURCE: REUTERS
The Biggest US Lender’s Push to Expand on the Continent
