Our purpose is to drive Africa’s growth. A core part of our business is to facilitate trade and investment flows between African countries, and between African countries and global markets.
We partner with international investors to connect them to opportunities in Africa, and with African governments, SOEs and businesses to facilitate their access to global capital markets. We helped raise over USD15 billion of finance for our African clients in 2018. We’re also working with African firms, and small enterprises in particular, to improve their access to trade finance. We’ve identified the development of digital solutions that simplify and broaden access to trade finance among Africa’s SME segments in key markets as a strategic focus, and we’re working with businesses and regional organisations toward implementing digital platforms to reduce the costs of intra-African trade.
In 2018, we celebrated the 10-year anniversary of our strategic partnership with ICBC. This partnership enables us to provide seamless solutions for individuals and businesses travelling and operating across national and international borders. Working together, we’re helping companies in Africa and China to maximise the potential of China-Africa trade, further driving sustainable economic growth and job creation in Africa.
Promotion of sustained, inclusive and sustainable economic growth, full and productive employment, and decent work for all
Contribute to job creation, enterprise development in countries of operation
The African Union’s Agenda 2063 highlights the importance of trade and investment infrastructure to connect Africa.
The deepening of trade and investment flows between African countries and global markets such as China provides opportunities for African economies to develop and expand manufacturing and services industries, and for African businesses to tap into new markets and access global supply chains. A core part of our business is to facilitate trade and investment flows between African countries, and between African countries and global markets.
China is now Africa’s largest trade partner and bilateral trade and investment ties are growing rapidly. As many as 10 000 Chinese-owned firms are operating across Africa.
Growing numbers of African businesses, ranging from individual entrepreneurs to corporations, are doing business in China. Chinese trade and investment offers opportunities to grow Africa’s manufacturing sector, increase the scale and sophistication of African exports, and create jobs across the continent. Since 2008, Standard Bank and ICBC have been working in partnership to support businesses operating in the China-Africa corridor. In the 10 years since our partnership was established, our two banks have provided USD8.5 billion in financing support for over 40 projects in Africa involving Chinese companies, leveraging investment of around USD30 billion.