J.P. Morgan Chase & Co. (JPM) is planning a transaction-banking push in Africa, Reuters reported Thursday, citing the bank's chief for the region.
The report said J.P. Morgan aims to open a full branch with local currency capabilities in Nigeria by the end of next year, according to John Coulter, the company's senior country officer for sub-Saharan Africa.
The bank is also planning to add 50 new staff in Nigeria over the next five years, according to the report.
Full story at http://www.reuters.com/article/2012/04/19/us-africainvest-summit-jpmorgan-idUSBRE83I0FD20120419
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