Kenya, Jan 26 – Kenya will be a prime time beneficiary of $20 billion financial investment plan from JPMorgan Chase & Co. The American multinational banking and financial services holding company seeks to enter the African market, with Kenya and Ghana earmarked to be the next primary countries in Africa.
During an exclusive interview, Chief Executive Jamie Dimon of the financial services company headquartered in New York City stated that their new objective is to increase its influence and presence in Africa by providing banking sector services to the available market. Running one of the largest banking institutions in the United States, Dimon added that Africa has great potential that can improve the financing sector.
Already, as a leading global financial services firm, the commercial bank has its operations worldwide but its hunger and thirst for better makes it more competitive in the market.
The CEO confirmed the links between the bank and Africa, stating that they are keen to land in green pastures to offer its variety of services to the customers. Dimon was among the professionals who attended the World Economic Forum meeting in Davos, Switzerland.
Dimon is up for the task in countries where initially local regulators had blocked the U.S. banking giant’s expansion plans during that time. He is confident this time around; it will be a smooth run.
In the $20 billion plan, the bank seeks to raise the wages for its workers as they look to add more employees. With the new branches, the institution believes they will accomplish much this year.
In 2016, the commercial bank registered $95.67 billion revenue. The firm was recently ranked as Fortune’s #1 most admired company in the industry. It offers solutions in investment banking, commercial banking and assets management. They as well deliver strategic advice and solutions, including capital raising, risk management, and trade finance to corporations.