Zenith Bank Plc has achieved another milestone in its global expansion with the inauguration of Zenith Bank (UK) Paris Branch, a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc. The official opening ceremony took place on Wednesday, November 27, 2024, at 21 Rue de la Paix, Paris, France. The event was officiated by Nigeria’s Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
This landmark move represents a significant step in Zenith Bank’s strategic vision of connecting Africa to the world and facilitating seamless trade and investment flows between the continent and Europe.
The inauguration was graced by distinguished African and global leaders, including the Governor of Kwara State and Chairman of the Nigeria Governors’ Forum (NGF), His Excellency AbdulRahman AbdulRazaq; Lagos State Governor, His Excellency Mr. Babajide Sanwo-Olu; Ogun State Governor, His Excellency Adedapo Abiodun, CON; and Enugu State Governor, His Excellency Dr. Peter Mbah.
Prominent business leaders such as Abdul Samad Rabiu, GCON, Chairman of BUA Group, and Alhaji Aliko Dangote, President of Dangote Group, were also present, alongside French dignitaries including Bertrand Dumont, Director General of the Treasury, France. The event celebrated a shared vision of deeper economic ties between Africa and Europe.
In her address, Group Managing Director/CEO of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, highlighted the strategic importance of the Paris branch, stating, “this expansion underscores our commitment to following our customers’ businesses globally and facilitating trade between Africa and Europe. France accounts for 20% of Nigeria’s trade with Sub-Saharan Africa, making this a natural progression. With Paris as our hub, we aim to lead the Francophone market, starting with subsidiaries in Côte d’Ivoire and Cameroon. This branch is more than just a financial institution—it is a bridge connecting African innovation and resilience with global opportunities.”
The Honourable Minister of Finance, Mr. Wale Edun, praised Zenith Bank’s leadership in fostering trust and collaboration between Nigeria and France, emphasizing, ““Zenith Bank’s presence in Paris will encourage French businesses to explore the vast opportunities in Africa, starting with Nigeria. This milestone reflects the dividends of building trust for African institutions globally.”
The Paris branch’s launch follows the final approval from France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), in September 2024. This development builds on the Memorandum of Understanding (MoU) signed in 2023 between Zenith Bank and the French Government, a testament to the bank’s proactive leadership in fostering bilateral cooperation.
Alhaji Aliko Dangote lauded Zenith Bank’s vision, “without strong financial institutions like Zenith Bank, Africa’s industrial giants would not be where they are today. This expansion is not just about banking—it’s about empowering Africa to rise on the global stage.”
Zenith Bank, Paris, is strategically positioned to accelerate trade flows between Europe and Africa. The branch will offer services including corporate banking, trade finance, and treasury services, leveraging the bank’s extensive global network. Its operations will facilitate African businesses in accessing European markets, while also supporting European companies looking to invest in Africa’s burgeoning markets.
The Chairman of the France-Nigeria Business Council, Mr. Aigboje Aig-Imoukhuede, CFR, underscored the importance of this collaboration, remarking, “this branch represents the fruits of intentional leadership and partnerships that redefine Africa-Europe relations. Zenith Bank continues to set the standard for what African banks can achieve globally.”
The launch of Zenith Bank, Paris, is a significant leap forward in strengthening Africa-Europe trade and financial relations. It highlights the resilience and ingenuity of African businesses and their ability to compete on the global stage. With this bold step, Zenith Bank cements its place as a pioneer in connecting Africa’s economic aspirations with global opportunities, embodying the spirit of Pan-Africanism and global collaboration.
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