September 09 2013 |
Financial Services
West African banking system
The West African banking system is characterized by two (2) main banking markets. On one hand the UMOA zone ( West African Monetary Union ) having a common currency for the West African CFA franc (XOF ) and regulated by the Central Bank of the States of West Africa (BCEAO) . On the other hand, the market of English-speaking countries mainly dominated by Nigerian banks which are becoming increasingly important in the entire West African region, occupying the first places in regional ranking. (more…)