Utilizing its presence in Cote d’Ivoire, Standard Bank plans to expand its service offering across the rest of Francophone Africa. In November, the financier opened an office in Abidjan to service 145 clients involved in various sectors including the power and energy industry.
The Bank’s Executive for Client Coverage Africa Greg Goeller said that West Africa couldn’t be ignored because it had huge economic potential. He said, “It’s fair to say that we’ll be using the [Abidjan] office as a launch-pad into the rest of the region.”
Standard Bank also plans to expand its focus to include Cameroon, the Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. One of the advantages of venturing into Francophone Africa is that the currency, CFA franc, is guaranteed by the French treasury and based on the euro.
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