Author: Cornel Dixon

When the pandemic first hit African economies in 2020, executives across the continent knew that banking would never be the same again. While bankers scrambled to plead with regulators and reassure shareholders, some believed that Covid-19 could fast track the slow movement of African banks to go digital. “It can be an opportunity for the continent and create new business models,” said Ade Ayeyemi, CEO of Ecobank, one of Africa’s largest banks. As banks released their yearly results in March, the prediction seems to have held true. Financial institutions saw large scale customer acquisitions and migration to digital channels. As…