The American bank Citigroup will launch its commercial banking services in South Africa, Nigeria, Kenya and Egypt due to the presence of large multinationals in these countries. “We will be in the markets with a caveat that we are not going to go to very small or small businesses, but rather focus on bringing the…...
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Citigroup interested in commercial banking services in Africa
epa02098019 (FILE) A file picture dated 05 November 2007 shows the Citigroup headquarters in New York, USA. The US Treasury Department on 29 March 2010 announced it would sell its multi-billion-dollar stake in Citigroup in 2010, in what would be one of the largest stock sales in history. The department said it intends 'to fully dispose of its approximately 7.7 billion shares of Citigroup, Inc. common stock over the course of 2010 subject to market conditions.' The US government owns 27 per cent of the firm and shares worth around 33 billion US dollars (24.5 billion euro) at current market rates. EPA/JUSTIN LANE
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