Banks’ Strategic International Expansion: Evidence from Africa

Lucas Elumah

doi:10.56741/jmsd.v2i03.407

Authors

Lucas Elumah
Luvility@yahoo.com
Nile University https://orcid.org/0000-0003-1761-5207

DOI:

https://doi.org/10.56741/jmsd.v2i03.407

Keywords:

Acquisitions, Africa, Globalisation, Internationalization, Strategic Alliance

Abstract

This study identified the strategies adopted by banks in Africa to gain access to international markets and why banks establish foreign operations. Twenty-two African banks were selected to examine the entry mode and number of foreign outlets. The study affirmed that most African banks expanded their operations internationally via acquisitions and strategic alliances. At the same time, the motive for expansion is linked to market development to serve customers operating in overseas markets, government policies, and strategic knowledge sourcing. Furthermore, some reasons identified include expanding operations, defensive expansion, and protecting existing bank client relations. The study recommends that African banks should strive to adapt different internationalisation strategies primarily driven by their desire to gain knowledge.

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Author Biography

Lucas Elumah, Nile University

pursues professional excellence through dedication and intelligent work without compromising organisational and societal core values and has more than seven years of experience in research and data analysis. With two years of working experience in the banking industry and leveraging an analytical mindset with competence in financial and data analysis. He is a chartered accountant, banker, entrepreneur, researcher, and public policy enthusiast who solves complex problems while efficiently and effectively working with a team and productively communicating with people to understand their peculiar needs and win their confidence. (email: luvility@yahoo.com).

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