Japan’s 3 vital banks seeking business enlargement in Africa

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20:46 29 Aug 2016

TOKYO, Aug. 29, Kyodo

Japan’s 3 vital banks pronounced Monday they will enhance their businesses in Africa, following Prime Minister Shinzo Abe’s oath over a weekend to accelerate measures to boost investment in a resource-rich continent.

The 3 banks — Sumitomo Mitsui Banking Corp., Mizuho Bank and a Bank of Tokyo-Mitsubishi UFJ — are aiming to assistance Japanese companies daub into a marketplace and support growth of a corporate zone in Africa.

Sumitomo Mitsui pronounced it has concluded with a Eastern and Southern African Trade and Development Bank to offer loans of adult to $80 million to a African bank, in tandem with a government-backed Japan Bank for International Cooperation.

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