Mitsubishi UFJ Said to Weigh Adding Bank Offices in Africa Push

Mitsubishi UFJ Financial Group Inc. is considering opening offices in Kenya and Morocco to boost its African business as Japanese companies seek natural resource and infrastructure-related opportunities on the continent, a person with knowledge of the matter said.

Japan’s largest bank has begun studying the possibility of opening the offices in the countries and no decision has been made, the person said, asking not to be identified because the deliberations are private. MUFG is also considering increasing staff numbers at its offices in South Africa and Egypt, according to the person.

Expanding the office network may help the bank to gather the information it needs to support Japanese companies operating in Africa, a region with diverse economies and governments, the person said.

Read more: Mitsubishi UFJ Said to Weigh Adding Bank Offices in Africa Push – Bloomberg

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