In an effort to realize Nigeria’s goal of becoming a US$1trn economy by 2030, Tier 1 banks have been called upon to find more innovative methods for providing medium- to long-term financing options for emerging growth sectors.
The latest Proshare Tier 1 Banks Report, titled “Getting Bigger, Braver, and Dominant – The Class of 2025”, highlighted this by categorizing the emerging growth sectors into 14 sub-economies.
With increasingly larger equity bases and untroubled by liquidity and the cost of bank deposits, banks are expected to find more creative ways of offering medium- to long-term financing options to emerging growth sectors as they rebalance their lending portfolios.
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