Zenith Bank to Expand Operations to Francophone Africa After Successful Capital Raise

Zenith Bank PLC has revealed plans to expand its operations to eight Francophone African countries, including Côte d'Ivoire, following a successful completion of a capital raise of N614.65 billion. The bank's Group Managing Director and CEO, Adaora Umeoji, emphasized the strategic push to deepen the bank's footprint in Africa ahead of the March 31, 2026 recapitalization deadline.

The capital raise was oversubscribed, increasing the bank's capital base to N614.65 billion, strengthening its balance sheet and broadening its shareholder base. Zenith Bank reported impressive financial performance in the first half of 2025, with significant growth in pre-tax profit, post-tax profit, and gross earnings primarily driven by interest income.