African banks a concern, says Motorola exec

Motorola phone 230 x 150
By Andrew Griffin
15 May 2014

Multinational firms are being cautious in their banking practices in Africa, as the absence of international banks has led to an uneasy reliance on local banks, according to the smartphone maker Motorola’s director of treasury for EMEA, Tim Westcott.

“In Africa, in certain countries, the big banks don’t seem to have gone in there very aggressively,” said Westcott, speaking at the Association of Corporate Treasurer’s annual conference on Thursday. “You have limited options, and no choice but to use local banks,” he added.

But Motorola sees local ...

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