The London-based Ghana International Bank PLC has entered services agreement with Benaba Limited, a Nairobi based consultancy, to provide coverage, as well as oversee its penetration strategy into the Eastern, Southern and Central African markets with effect from April 1, 2014.
Ms Jane W. Briggs, Benaba’s Chief Executive Officers, an experienced and highly respected banker wil spearhead the implementation of the coverage strategy.
The Nairobi office will provide coverage in the Eastern, Southern and Central African corridor, including Kenya, Uganda, Tanzania, Ethiopia, South Sudan, region has grown by 166 per cent from $47 million in 2011 to $126 million in 2013 hence the need for local top tier bank in the London market in terms of profitability and operation efficiency.
Commenting on the opening of the Nairobi office, the Chief Executive Officer of Ghana International Bank, Mr J. R. Mensah, stated that the foray into Eastern Africa was a natural development, and in line with the bank’s strategic plan which sought to replicate the successes achieved in the West African market in the regions where it had seen tremendous growth in its chosen areas of business.
He said the rapid growth in the bank’s business had necessitated a presence on the ground to ensure quality service delivery and close monitoring of the bank’s credit exposure.
The agreement was signed on behalf of Kairu, the bank’s chief operating officer.
Ms Briggs for her part expressed her delight in representing the bank, and pledged to use her in-depth knowledge of the region to support the bank’s activities.