403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Egypt among top 5 African banking markets: McKinsey
(MENAFN- Daily News Egypt) Egypt was chosen among the top five banking markets in Africa in terms of growth and profitability, according to a study by management consulting firm McKinsey & Company.
The McKinsey report said that Egypt, Angola, Nigeria, South Africa, and Morocco account for 68% of the continent€™s total banking revenues.
The report identified four archetypes among African banking markets: relatively mature, which includes countries such as Egypt and South Africa; fast-growing transition; sleeping giants; and nascent markets.
Relatively mature markets have higher branch penetration€17 branches per 100,000 adults versus the African average of five. They also have higher credit penetration: 22% of adults, double the African average.
The report predicted that around 60% of retail banking revenues in the continent over the next five years will come from Egypt, Morocco, South Africa, Ghana, and Nigeria.
The McKinsey report said that Egypt, Angola, Nigeria, South Africa, and Morocco account for 68% of the continent€™s total banking revenues.
The report identified four archetypes among African banking markets: relatively mature, which includes countries such as Egypt and South Africa; fast-growing transition; sleeping giants; and nascent markets.
Relatively mature markets have higher branch penetration€17 branches per 100,000 adults versus the African average of five. They also have higher credit penetration: 22% of adults, double the African average.
The report predicted that around 60% of retail banking revenues in the continent over the next five years will come from Egypt, Morocco, South Africa, Ghana, and Nigeria.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment