A
Nigerian, Ade Ayeyemi has been appointed as chief executive officer for
sub-Saharan Africa for Citigroup Inc, the United
States lender with a presence in 16 African countries.
| Ade Ayeyemi |
Ayeyemi,
who was head of transaction services in Africa, has been with the bank for 25
years, unit of Citigroup said in a statement on Tuesday. The new Citigroup CEO
for sub-Saharan Africa, who worked for the bank in Nigeria before taking up
regional roles, will be based in Johannesburg.
Citigroup,
which provides project financing and investment banking in Africa, has been expanding on
the continent to tap economic growth that is outstripping rates in developed
nations.
Africa
represents an important growth opportunity for Citigroup as the continent increases
its share of world trade, Donna Oosthuyse, chief country officer for the New
York-based bank in South Africa, said on Monday.
“We
believe that Africa will outpace that of many parts of the world and expect
that in time, Africa’s share of contribution to the bank will also increase,”
Oosthuyse said in an e-mailed response to questions.
Citigroup’s
North African business will be overseen by Atiq Ur Rehman, head of the lender’s
Middle East unit, the bank said.
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