The group was made up of experts from finance ministries, attorney-generals’ chambers, central banks, the EADB itself and ministries responsible for EAC Affairs.
Following early teething problems, the group said that the IT systems are managing the growing customer and transactional volumes well and proved very stable over the 2020 year-end period, maintaining a systems uptime of >99.9%.
It said this year it will expand in eight new African markets by setting up offices in some countries, partnering with existing banks in some nations or deploying digital platforms to provide services to customers.
HSBC's Middle East and North Africa, or MENA, unit contributed 4.32% of group pretax income in the third quarter of 2020, a recovery from negative 1.16% in the previous quarter, according to S&P Global Market Intelligence data.
This means applications from non- indigenes who are resident in Lagos and own at least 50 per cent ownership in either start-ups, micro enterprises, or small and medium enterprises will be accepted for consideration.
This has heralded issuance of longer dated Treasury bonds, raising the average period to maturity to 8.5 years in January from 7.96 years a year earlier, and 7.09 years in January 2019.