Vista France Will Catalyse Diaspora Investment Into Africa

The Vista Group, one of Africas largest financial services holding company, has received approval from the French banking regulator, ACPR to establish Vista Bank in France. Vista Bank France is expected to launch in the second half of this year.

Simon Tiemtor, Chairman of Vista Group Holding, says the new addition to the Group will be a fully-fledged, full time bank. It will enable us to provide correspondent banking services to facilitate the promotion of trade between Africa and the rest of the world, he adds.

The bank will also corporate banking, international trade financing, factoring, foreign exchange and treasury management and advisory services.

Vista Bank France will be the Group first banking operation outside Africa and its first green-field bank since acquiring numerous former French banks in Africa.

In addition to facilitating trade between Africa and the world, Vista Bank France will act as a catalyst for diaspora investments. The African diaspora in Europe, the US and the Middle East has grown into millions of people.