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Africa's banking sector has seen a major increase in products, services and regulation in recent years. Some of these services are particularly targeted at non-resident Africans.
In the early 1980's the banking industry in much of Africa was dominated by foreign and state-owned banks, with few commercial banks owned and managed by the African private sector.
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Today, wireless and other technological advances have enabled the development of African and international banking and non-banking financial institutions across the continent offering a wide range of services. In some countries, ATMs and credit card payments are widely established, while rigorous banking regulations have resulted in greater confidence for foreign and domestic depositors alike.
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Banking services now available through banks for personal banking include:
- Current Accounts
- Savings Accounts
- Internet Accounts
- Non-resident Nationals Accounts
- Loans
- Credit and Debit Cards
- Term Deposit Accounts
- Foreign Exchange
- Transfer and Payments
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Services for commercial/business banking now available include:
- Business Loans
- Commercial Products (Letters of Credit)
- Transfers and Payments
- Internet Banking
- Foreign Exchange
- Trade Finance
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