JPMorgan Chase & Co moving into Ghana and Kenya


JOHANNESBURG, Jan 25 (ANA) – In a bid to expand its presence on the African continent, JPMorgan Chase & Co has announced that it will be moving into new African countries including Ghana and Kenya, Reuters reported.

The announcement was made on Wednesday by Chief Executive Jamie Dimon during an interview with Bloomberg Television on the sidelines of the World Economic Forum meeting in Davos, Switzerland.

Local regulators in Ghana and Kenya had previously blocked the US banking giant’s expansion plans.

On Tuesday the company announced a $20 billion investment plan to increase wages, employ more people and open new branches following sweeping changes to US tax laws and a more favourable regulatory environment.

– African News Agency (ANA)