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African economic development

The AU’s Agenda 2063 highlights the importance of infrastructure to connect Africa. The deepening of trade and investment flows between African countries and emerging markets such as China, can potentially drive economic integration.

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This requires expanding manufacturing and processing capacity within African economies, reducing administrative and transaction costs of cross-border trade, and improving transportation, logistics and communication infrastructure to support intra-African trade. We’re working with our strategic partners, ICBC, to grow and deepen trade and investment links between African economies and Chinese investors and businesses. We are also working with African governments to support the development of enabling infrastructure.

HELPING GHANA SECURE A FACILITY
OF US$1.3 BILLION OF FOREIGN
INVESTMENT

Connecting countries through investment in infrastructure

A vital component of enabling African businesses to trade regionally and internationally is improving the road, rail, port, logistics and telecoms infrastructure between African countries. Investing in these improvements will reduce the cost of doing business and improve the efficiency of accessing material and getting goods to market for African businesses of all sizes.

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Improving access to trade finance helps us to drive inclusive economic growth. Surveys undertaken by the Asian Development Bank (ADB) have found that, if firms were able to access the trade finance they require, they’d invest in production and productivity improvements, grow their exports, employ more people, and invest in other businesses. The ADB estimates that a 15% increase in the availability of trade finance translates into a 17% increase in employment.
– Vinod Madhavan, Head of trade, Standard Bank Group

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