The State Bank of India plans to open an office in Botswana, where Indian companies are involved in operating diamond cutting and polishing businesses, says M.G. Vaidyan, the regional head of India’s largest bank. The company is busy with the regulatory process for opening its Botswana office. State Bank sees Africa as a “continent of future opportunities” and will target expansion in nations that are politically and economically stable, explains Vaidyan. Once established, the State Bank of India will be joining ABN AMRO, which recently opened a branch in Gaborone and also transferred its International Diamond and Jewellery Group from Johannesburg to Botswana.
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