Zenith Bank, the Nigerian banking giant under the leadership of Nigerian banking tycoon Jim Ovia, is charting a new course in francophone and East Africa. The bank has unveiled plans to launch operations in Cte dIvoire in 2025, with Cameroon next on its radar, while simultaneously advancing an acquisition bid for a tier-two lender in Kenya.
This expansion drive comes weeks after Zenith completed a N350.4 billion 229.74 million capital raise, comprising a rights issue and public offer, that lifted its share capital to N614.65 billion 402.69 millionwell above the N500 billion 327.36 million threshold set by the Central Bank of Nigeria CBN for international lenders. Approximately 40 percent of the new funds are earmarked for the overseas expansion.
Cte dIvoire entry first