Leveraging on digital banking, Nigeria’s First Bank revealed plans to boost its customer base by 17 million to 30 million customers, by 2020. This was disclosed on Friday by the lender’s chief executive, Adesola Adeduntan.
“We have enough brick and mortar (branches) and need to push digital,” Adeduntan told Reuters by phone. “We have set ourselves an ambitious three-year plan of transformation,” he added.
Besides increasing its customer pool, the bank intends to increase its lending by 5-10% this year. An achievable feat given that 47% of its transactions were carried out electronically by the end of March.
First Bank has 750 branches across Nigeria. It is, according to its chief executive, developing a banking to get more customers, especially in rural areas where more than 60% of Nigeria’s population is.
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...