NEWS & ADVICE : HOME LOANS
Presence of Indian Banks in Africa
By Joseph Samson
Nov 25, 2013
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The commercial banks of India are now in the process of expanding, by working along with the business and consumers in Africa, and also building a two way investment and trade.

State Bank of India (SBI) and Bank of India (BOI) are now following BOB. The first branch of BOB was opened and Johannesburg. It also has branches in Zambia, Tanzania and Kenya, the last year, in Uganda a subsidiary which is completely owned was opened last year.

In the continent of Africa, you will see the presence of SBI in places like Mauritius, Nigeria, Egypt and Angola. The State Bank of India Mauritius, a subsidiary is an established player along with 15 other branches in Mauritius. For investment in Africa, Mauritius is considered to be the gateway by Indian Companies.

ICICI, the private Indian Sector bank, is also planning to open its branches in South Africa as well as in Mauritius.


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