Rapid expansion of African banking

In the years since the global financial crisis, said the IMF, Africa has witnessed a rapid expansion of cross-border banking, led by banking groups based in Africa that are spurring financial and economic integration and transforming the continent’s financial landscape. A conference on this topic that has been recently held in Mauritius brought together more than 80 officials from Africa and Europe – including 12 African central bank governors – and bank chief executives, along with an IMF team led by Managing Director Christine Lagarde.