Building Africa’s Leading Business Platform
Delivery on Standard Bank the ambition to build Africa’s dominant trading platform is not as unlikely as many might think.
As a bank committed to driving Africa’s growth, Standard Bank has for decades steadily expanded its footprint and deepened its reach and capabilities in 20 African territories.
Today, the bank is the largest in terms of assets in Africa. Through Standard Bank’s capital partnership with the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, the Group represents a formidable continent-wide banking ecosystem, driving Africa’s growth in connecting Africans to each other – and Africa to the world. .
Technology, presence and global reach define the continent’s future business ecosystem
Much of the Group’s efforts to date have rightly focused on the banking value chain, supporting in-market, cross-border and global trade at the transactional level.
Philip Myburgh, head of trade and Africa-China in Standard Bank’s Business & Commercial Clients (BCC) division, believes that recent developments within and between African countries – and the world – present a compelling case. powerful for the emergence of a dedicated end-to-end service. ultimate business practice serving the entire African business value chain.
On the opportunity side: rapidly growing markets in East and West Africa. Develop inter and intra-regional trade.
Recovery in global trade driven largely, but not exclusively, by China. The widely ratified African Continental Free Trade Area (AfCFTA). The re-emergence of post-Covid global growth.
All of this combines to provide African small, medium and large businesses with a business opportunity destined to re-ignite Africa’s growth story and sustain growth for generations to come.
On the challenge front: In a world where local and global supply chains have been disrupted, customers face new and complex risks.
Understanding and successfully negotiating the new global realities of trade and supply requires advanced knowledge, presence and access to agile global networks supported by much more advanced connectivity technology.
Beyond simply facilitating transactions, adopting a more holistic view of trade across 15 of the continents most active trading markets offers the BCC an opportunity to leverage its developed local, continental and global ecosystems to strategically intervene at critical points in Africa’s trade value chain.
By deploying and expanding its existing presence, networks and knowledge, the BCC can connect, inspire, support, finance and develop the capacity of African businesses to leverage trade for multi-factor growth.