Business Nigeria’s Zenith Bank Targets Power as Siemens Fights Blackouts - Bloomberg

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Zenith Bank Plc (ZENITHBA), Nigeria’s second largest lender by assets, said it expects to increase loans to the country’s privatized power companies as the government seeks to end blackouts in Africa’s biggest oil producer.

Loans to the power sector may rise to 10 percent of the bank’s loan book by next year, up from 4.3 percent in the third quarter and 1.3 percent at the end of June, Chief Executive Officer Godwin Emefiele, 52, said in an interview yesterday at the bank’s headquarters in Lagos, Nigeria’s commercial capital.

Source: Bloomberg
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http://www.bloomberg.com/news/2013-...argets-power-as-siemens-fights-blackouts.html

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