Internationalisation process of African banks: an exploratory study

Research investigating the internationalisation process of firms from Sub‐Saharan Africa (SSA) is limited. The purpose of this paper is to draw on extant work on internationalisation theory to propose an integrative framework that investigates the internationalisation process of African banks.

Using a qualitative, case‐based approach, the study explores the distinct cases of four banks (three in Nigeria and one in Kenya/Mauritius) and explores their internationalisation behaviour and pathways to understand how they have leveraged their ability to internationalise their businesses.

The findings illustrate how the internationalisation pathways of African banks are shaped by a balancing act of leveraging accumulated global and regional strengths to achieve international growth and expansion.

The study acknowledges that it draws from a limited empirical base on a very important topic and in so doing it provides directions for further research towards understanding the internationalisation process of firms in Sub‐Saharan Africa (SSA) and highlights some policy implications.

The paper adopts a process perspective to explore and understand the internationalisation of African banks. Africa‐specific studies of internationalisation are very limited, and this study provides a critical extension of the Western‐based internationalisation theory to the African context.