Great article!

The problem with the holding company model in a place like Africa is also regulation. Banks already started doing this in Africa but were forced to split up their other business from core banking for very obvious reasons of anti-trust. The holding company model may be renamed as the “Global Model” as this is the only way it ever works well. The holding entity has to be out of the jurisdiction of local regulators. Ecobank has the most potential for this in Africa.