Zenith Bank Plc has solidified its global presence by signing a Memorandum of Understanding (MoU) with the French government to establish a subsidiary in France. The MoU, signed by Jim Ovia, the Founder and Chairman of Zenith Bank, and French Minister for Trade, Attractiveness, and French Nationals Abroad, Mr. Olivier Becht, sets the stage for Zenith Bank’s strategic expansion into France.
The agreement enables Zenith Bank, through its wholly owned subsidiary, Zenith Bank (UK) Limited, to pursue and obtain regulatory approval from the Autorite’ de Controle Prudentiel et de Résolution (ACPR) to establish a foothold in France. Jim Ovia expressed his delight during the signing ceremony, stating, “It gives me great pleasure to welcome you to Nigeria and Zenith Bank. I am indeed very delighted about the signing of this MoU with France. For me, it is an honour to do this on behalf of the bank, and we look forward to securing the licence and starting operations in early 2024.”
Acknowledging the efforts of the French Ambassador to Nigeria, Emmanuelle Blatmann, and her colleagues at the French Embassy in Nigeria, Ovia highlighted the commitment to enhancing French-Nigerian business relations.
Mr. Olivier Becht commended Zenith Bank’s decision to open a branch in Paris, considering it a positive signal and a demonstration of mutual confidence. He emphasized the pro-business agenda of President Macron’s government, focusing on making France more attractive through various reforms, including labor law, procedural simplifications, and substantial tax reductions.
“We hope that the opening of the branch of Zenith Bank in France will also be an occasion to boost the French-Nigerian business in order to have more French companies investing in Nigeria and also to have more Nigerian companies investing in France,” added Becht.
In another notable move, Zenith Bank illuminated Ajose Adeogun Street and Roundabout in Victoria Island, Lagos, to celebrate the Christmas and Yuletide seasons. The Group Managing Director/CEO, Dr. Ebenezer Onyeagwu, conveyed his delight in heralding the 2023 Yuletide season through this festive lighting ceremony, emphasizing the spirit of Christmas – peace, love, forgiveness, and respect for humanity. Dr. Onyeagwu extended his wishes for peace in every home, business, and country.
