17 July 2013
By African standards, and for a country of its size, the Nigerian banking system has been tidied-up with only 20 banks left standing today after rounds of crisis, consolidation, (re-)privatisation and acquisition. This piece from The Banker illustrates some of the strategies being explored by the smaller banks to generate growth, and to tap into a market of astonishing potential. With 80% of Nigerians still unbanked, while 80% do have mobile phones, an glimpse of the retail potential is visible. Also some insights from the outgoing Central Bank Governor on the potential for agri-lending and SME business, as opposed to the "me-too" strategies of many banks at the corporate end.
-- Jan Cherim
Nigeria’s small banks pack a punch - The Banker
