South Africa's FirstRand eyes expansion across Africa.

By bne IntelliNews December 3, 2010
FirstRand, South Africa's No.2 banking group, plans to expand in Nigeria, Tanzania, Angola, Ghana and Kenya through acquisitions and internal growth, Bloomberg reported. Once the lender has successfully entered the five priority countries, it may explore expanding in Zimbabwe, Uganda, the Ivory Coast, Senegal, Cameroon and Congo, the news agency reported quoting a presentation by the banks CEO Sizwe Nxasana. The company currently has operations in Namibia, Botswana, Lesotho, Mozambique, Swaziland and Zambia. FirstRand has also received approval to open trade-finance and investment-banking businesses in Kenya and plans to start operations in Tanzania next year, Nxasana said.

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