By Ghazali Ibrahim
Nigerian music star and entrepreneur, Mr Eazi, has proposed the establishment of a new financial institution, the Eazi Bank of Africa (EBA), with an estimated investment of $900 million.
The singer disclosed the plan during an exclusive meeting with executives of emPawa Africa and Pawapay, where he outlined his vision for a pan-African bank aimed at expanding financial access across key markets on the continent.
According to the proposal, Eazi Bank of Africa will commence operations with four branches spread across three countries. Nigeria is expected to host two branches, while Ghana and South Africa will each have one branch.
Mr Eazi has already submitted the proposal to the Central Bank of Nigeria, as well as regulatory authorities in Ghana and South Africa, seeking Approval in Principle (AIP) to kickstart the project.
He noted that the initiative will be made public once the necessary approvals are secured from the respective financial regulators.
The proposed bank is expected to leverage Mr Eazi’s existing business ecosystem, including emPawa Africa and Pawapay, to drive financial inclusion and support digital payment solutions across the continent.
If approved, the Eazi Bank of Africa could mark a significant step in bridging financial gaps and strengthening cross-border financial services in Africa.
