n AfricaGrowth Agenda - Why African economies should open up to foreign banks

Volume 2009, Issue 10
  • ISSN : 1811-5187


Foreign banks are banks that are substantially owned and controlled by foreign individuals and / or organizations (Aburime, 2007 : 48). The broad aim of this article is to outline how the traditional skepticism of Africans to foreign investments has served to shut out foreign banks, and establish the need for Africans to open up their economies to foreign banks in order to reap the numerous benefits of foreign bank penetration.

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