Nedbank targets West African

South African bank Nedbank Group ltd. is focusing its attention to West Africa.

In partnership with Ecobank, it aims to manage the fortunes of that part of the continent, which is experiencing rapid economic growth. Nedbank, Ecobank’s largest shareholder with a 21% stake, has started offering wealth management products to clients of the pan-African bank in Ivory Coast, according to Bloomberg reports.

Senegal, Benin and Burkina Faso could also be the other targets of the South African bank.

Mark Weston, the bank’s investment manager says that the bank will want to make the most out of the relationship they have with Ecobank.

Efforts are in place to add value for Ecobank customers in more than 30 countries.

For the English-speaking countries in the region, in 2019, Nedbank is targeting Ghana, next door to their Nigerian base.

@philemonmbale