Zenith Bank MD calls for banking collaboration, not competition (African Business Leaders Forum)
November 10, 2011, Accra, Ghana: With only 10% of the bankable population of Africa with bank accounts, according to the IMF, Daniel Asiedu, the managing director of Zenith Bank in suggests that banks should be collaborating and not competing. He called on banks to develop a common platform to provide banking services to the general population.
He went on to suggest that when measuring the efficiency or otherwise of the financial system of any country, that this should be looked at holistically.
He reminded delegates at the Vodafone African Business Leaders Forum that banks were only one part of the financial system, which included other financial institutions, the government and most importantly the general population.
He did call on governments to remember that international investors want stability in a country’s political system. While Brooks Mparutsa, CEO of Hollard Insurance, in South Africa did caution against over-regulation. He suggests that it’s about innovation, innovation in the delivery of financial services to the communities that need them.
Sponsors of the African Business Leaders Forum include Vodafone, Zenith Bank, Virgin Atlantic, Briscoe Technologies & IEI.
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