The Group Chief Executive Officer,
Ayeyemi, who was quoted in a statement to have made this assertion during an interview recently, pointed out that
He reiterated that the bank's platform could be scaled to accommodate other African countries under the AfCFTA based on their respective regulations.
According to the
"With this Pan-African exposure, the governments and our customers will re-evaluate their businesses to efficiently take charge of bigger opportunities. So, if you manufacture goods in Aba for the Nigerian market, you can now start thinking of how to expand your manufacturing capacity to be able to export across
"And as you change your demand forecast, you need to now improve your capacity to produce and that will mean importing new machinery to expand your manufacturing base, develop bigger market and hire more people," he said.
The Group CEO was optimistic that the introduction of the AfCFTA would curb the regulations and government policies limiting the flow of foreign exchange.
"Banks will work with other banks like Afreximbank to provide a swift payment platform as
"For instance, there is no need for
The AfCFTA which came into effect this January, aims at creating a single African wide market for goods and services. It will pave the way for rapid dismantling of impediments to cross-border trade leading to free movement of business, persons and investments across the continent, thus leading to the establishment of the
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