Ivory Coast: Lobbyist Republic becomes investment bank
The bank aims to become the "investment bank of reference in Africa."Consulting firm Lobbyist Republic has announced its transformation into an investment bank in 2015, trading as Kimberly-Bank.
The Chairman of the Executive Committee, Hamilton Dia Houphouët-Boigny, said in a statement posted on the company's website that Africa needs more than ever to secure funding for projects aiming at boosting its development.
"Our clients ask us more and more about corporate finance, mergers and acquisitions and financial arrangements. These demands allow us to take the opportunity to structure and position ourselves clearly as an investment bank," he explained.
The new company intends to expand throughout the African continent and aims to become the "investment bank of reference in Africa"
The announcement comes just days after Barclays Africa Group's corporate and investment banking unit approached Nigerian authorities to obtain a licence to open a fully fledged investment bank in the country.
Many banks are expanding their presence in Africa to take advantage of a resource-rich, but under-developed continent with one billion people, as the World Bank forecasts growth in Africa to accelerate to 6.7 per cent this year.