Audio By Carbonatix
JPMorgan Chase & Co (JPM.N) plans to expand its African presence into countries including Ghana and Kenya, Chief Executive Jamie Dimon said in an interview on Wednesday.
“You’ll see us open in some countries we are not in, in Africa you’ll be hearing about some of that stuff,” Dimon told Bloomberg Television on the sidelines of the World Economic Forum meeting in Davos, Switzerland.
Dimon said the bank would target Ghana and Kenya, two countries in which local regulators have previously blocked the U.S. banking giant’s expansion plans, according to media reports at the time.
The announcement follows JPMorgan’s unveiling of a $20 billion investment plan on Tuesday which will see it hike wages, hire more, and open new branches as it takes advantage of sweeping changes to U.S. tax law and a more favorable regulatory environment.
The five-year plan will see the U.S. bank ramp up overseas investment in addition to its domestic growth plans, after it finished cleaning up troubled mortgages following the 2007-09 financial crisis.
Latest Stories
-
52 foreign nationals arrested in Northern Region over human trafficking, cybercrime
2 hours -
Kofi Kyereh returns to Freiburg training after almost 3 years out
2 hours -
US Embassy to launch FIFA Pass visa system for World Cup travelers
2 hours -
13 sex workers arrested in Tamale made to clean market as a deterrent
2 hours -
Prof Andrew Owusu unanimously elected to represent Africa on World Olympians Association leadership
3 hours -
GPRTU arrest: ‘Not belonging to a union is not a crime’ – Martin Kpebu
3 hours -
Ibrahim Sulemana completes loan return to Cagliari
4 hours -
Prejudicial remarks against Ofori-Atta shameful, hypocritical – Frank Davies
4 hours -
No law allows GPRTU to arrest drivers over fare disputes – Kennedy Osei Nyarko
4 hours -
Update: Fire at Madina Zongo Junction successfully contained
4 hours -
A Closer Look at a 21-Day Religious Fast
4 hours -
NPP’s Osei Nyarko condemns ‘high-handedness’ in crackdown on driver overcharging
5 hours -
Gwollu, Resistance, and Renewal: The living legacy of the Tanjia Musa Fire Festival
5 hours -
Ofori-Atta isn’t scared of criminal prosecution, he will come at the right time – Frank Davies
5 hours -
Firefighters battle blaze at Madina Market
5 hours