JPMorgan Chase, one of the biggest banks in the world, dey plan to expand their operations in Africa, and their CEO, Jamie Dimon, dey lead the charge. Dimon recently announce say JPMorgan go establish presence in Kenya and Ivory Coast, and him go visit Nigeria, Kenya, and South Africa to make this happen.
According to Dimon, JPMorgan want to add one or two countries in Africa every couple of years. Him say this go help them get more local knowledge and relationships, and it will allow them to serve government, big enterprises, and multinationals with traditional banking services.
In Kenya and Ivory Coast, JPMorgan go focus on commercial and investment banking, treasury services, and maybe some lending. But for now, dem no plan to offer asset and wealth management services in those countries, though dem already offer am in Nigeria and South Africa.[
Dimon also talk about how technology, especially artificial intelligence, go change many things but also emphasize say companies and society need to help people who go lose their jobs because of these changes. Him say JPMorgan love to retrain and redeploy employees whose roles go be affected.[
The Central Bank of Kenya already give JPMorgan approval to build a representative office in Kenya, which go contribute to the diversity of Kenya’s financial sector and catalyze trade and investment.[
