ZENITH BANK EXPANSION PLAN

Zenith bank chairman, jim ovia discusses the expansion plan of the bank, also had a talk on Nigeria and Africa  economy.

Zenith bank is in the UK and several African countries, including The Gambia, Sierra Leone, and so on. The bank  stocks are traded on the London Stock Exchange.  This shows the bank is rapidly expending worldwide.

According to the chairman, ”Our UK subsidiary recently opened a branch in Dubai as part of our expansion strategy”.

He also added that, ”Within the African continent we plan to leverage on our size as one of the top 10 banks in the continent”

The bank is planning  to work on the economic muscle and potential of the Nigerian economy (their primary market) to spread their  brand into strategic markets within West Africa and other parts of the African continent.

Mr Jim Ovia stated, ”trade among African economies tends to be on the rise, even as countries within the continent continue to break the longtime dependence on importation to meet their domestic needs”.

For example, according to the trade statistics published by the National Bureau of Statistics in 2016 it showed a significant decrease in Nigeria’s imports and increase in exports. These tends to be the benefits from the country’s policies that support import substitution and development of the domestic industries.

The gradual improvement of trade between countries in the continent is expected to boost the productivity and rapid economic expansion within the continent, address unemployment challenges, boost inclusive growth and development as well as self-sufficiency in food production, manufacturing, etc.

zenith bank is willingly to support the continent according to the banks chairman who said, ”As a leading African financial services institution, we are eager to support the continent in harnessing its huge economic potential”.