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Jamie Dimon, CEO of JPMorgan Chase, is scheduled to visit Africa in mid-October, marking
his first trip to the continent in seven years, as reported by Reuters. The visit is part of the
bank’s broader effort to strengthen its footprint in key African markets and tap into the region’s
growth potential.

Dimon is expected to travel to several countries, including Kenya, Nigeria, South Africa, and
Ivory Coast. JPMorgan already operates offices in South Africa and Nigeria, providing services
such as asset management, wealth management, and commercial and investment banking.

This move comes at a time when major international banks, including Barclays, BNP Paribas,
and Citigroup, are expanding their operations in Africa to seize new opportunities driven by the
continent's economic growth.

With over $4.1 trillion in assets and operations spanning more than 100 countries, JPMorgan
has made international markets a cornerstone of its growth strategy. In 2018, Dimon
expressed interest in entering Ghana and Kenya, but regulatory hurdles reportedly slowed the
bank’s efforts in those markets.

In February 2023, Kenyan President William Ruto announced that JPMorgan had committed
to opening an office in Nairobi after meeting with one of the bank's senior executives,
underscoring its growing ambitions in the region.

JPMorgan, one of the top global private banks by assets under supervision, has been
aggressively expanding internationally. Over the last five years, the bank has ventured into 27
new locations worldwide, contributing $2 billion in revenue to its commercial and investment
banking business, according to Daniel Pinto, the bank’s president.

Despite its push for growth, the bank has also streamlined its presence in certain African
markets. Last year, JPMorgan sold its subsidiaries in Angola, Cameroon, Gambia, and Sierra
Leone as it fine-tunes its strategy on the continent.