Nedbank set for Nigerian market

05.06.2008

Nedbank, a South African bank, has applied for a licence in Nigeria, according to an executive of the bank, Siphiwe Cele, who made the announcement at the Nigeria/South Africa business forum in Cape Town on Wednesday.

He took advantage of the presence of the presidents of both Nigeria, Umaru Yar’Adua, who is in South Africa on a three-day state visit, and of South Africa, Thabo Mbeki, to ask for their encouragement.

Sanusi Daggash, the Nigerian Minister for National Planning, who was in the entourage of President Yar’Adua, reassured Cele, saying all the bank needed to do was fill in the right forms and the licence would be granted.

Daggash also told the bank executive that there was plenty of banking infrastructure available across the country.