The sports category has moved to a new website.

JP Morgan Chase is ready to expand to Ghana and Kenya

The bank wants to have a say in two of Africa's most valuable banking markets

The announcement was made by the Chief Executive Officer of the bank, Jamie Dimon at the World Economic Forum in Davos, Switzerland.

Three years after been turned away by both countries after its first attempt, Dimon feels his company is ready.

“You’ll see us open in some countries we are not in, in Africa you’ll be hearing about some of that stuff."

ADVERTISEMENT

When the bank was turned away in 2012, Dimon, revealed a strategy to get around the obstacles of the time by banking multinational companies and the biggest institutions in those markets.

JPMorgan managed the Kenyan government’s debut $2 billion Eurobond sales in 2014 and, along with Citigroup, financed planes for national carrier Kenya Airways Ltd.

In Ghana, JPMorgan has financed government power plants among other large-scale projects.

The bank's African ventures have not all proven successful with the Federal Republic of Nigeria recently filing a suit in a London court, demanding $875 million as compensation for negligence by the bank in the transfer of funds.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

10 African countries with the strongest military power in 2024

10 African countries with the strongest military power in 2024

ADVERTISEMENT