Posts tagged as: standard-bank

Malawi: Standard Bank Group Tips Entrepreneurs

Standard Bank says it is well positioned to uplift small and medium enterprises reap the benefits from Malawi’s current economic growth and positive outlook for Gross Domestic Product (GDP).

Speaking at an interaction with key customers in the business and enterprise egments in Lilongwe, Standard Bank Group Head of Business Banking Andrew Robertson said current growth of the economy gives entrepreneurs an opportunity to grow their business.

“Malawi’s projected growth in GDP to 4.5% is better than for most countries in the region, not least South Africa where growth is stuttering at 1% of GDP. At Standard Bank, we are a partner for growth and our teams have the right expertise to guide customers navigate any pitfalls through provision of tailored financial solutions and products,” he said.

In its half-year financial and economic review Reserve Bank of Malawi (RBM) projected real GDP growth to pick up to 4.5 percent, up from 2.7 percent in 2016. The central bank said there are prospects of further growth of up to 5 percent in 2018 on account of a rebound in agriculture due to favorable weather.

The central bank’s review cited notable expansion in construction, wholesale and retail, financial and insurance activities as key drivers of growth.

“Despite the obvious volatilities that businesses face such as interest and exchange rates here, the economic factors for Malawi at the moment seem right,” said Robertson.

During his trip in Malawi, Robertson was accompanied by Standard Bank Group’s Head of Credit Richard Irvine.

The two heads visited clients in Lilongwe and held team-building interactions with the Personal and Business Banking (PBB) team that is led by Dr Margaret Kubwalo-Chaika.

In her remarks, Chaika said the bank invited the two heads from headquarters to interact closely with the Malawi customers as part of strengthening relations and understanding their needs intimately.

“We are passionate about driving growth for Malawi and Africa. Reinvigorating the African business landscape, where SMEs and large corporations are competing for their fair share of the credit cake, is crucial because it creates a growing middle class with disposable income,” she said.

The PBB Head thanked customers for trusting in Standard Bank as their financial partner, and said the bank would continue to cultivate closer and intimate relations aimed at moving their businesses forward.

She said following the acquisition of a new core banking system, Finacle, Standard Bank now offers unparalleled efficiency through a number of innovative digital products powered by the new banking platform. She cited Enterprise Online and Changu pa Geni as some of the services.

One of the invited customers, Chrissy Havilah thanked Standard Bank for opening its door to SME and said she looked forward to closer engagement with the bank.

“I am glad that the bank has us in mind and takes us seriously,” said Havilah, a Lilongwe-based contractor and auto-parts trader.

Malawi

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Namibia: Standard Bank Takes First Auto Show to the Coast

Windhoek — For the first time since its inception, Standard Bank is taking its coveted Auto Show to the coastal town of Swakopmund this coming weekend.

Boasting the same spectacular benefits and features as the annual Auto Show that is hosted in Windhoek, the Swakopmund Auto Show will take place on 22 and 23 September at the Dome.

“Our expectation is to deliver excellent service and support at the doorstep of our dealerships and also to offer a vehicle solution to our clients in the coast,” Standard Bank’s Vehicle and Asset Finance New Business Manager Magreth Mengo said of the Auto Show.

She stressed that having proved to be a resounding success in the capital, with people travelling from all over the country to best deals and purchase their dream cars, the Swakopmund Standard Bank Auto Show will give the coastal automotive industry representatives and dealers an opportunity to also showcase their latest car models and also give prospective buyers a chance to test latest vehicles on the market.

10 dealerships will be participating in this ground-breaking exclusive event. The 2017 Auto Show is bringing revellers an engine-flaring line-up of automotive excellence for their exploration; however, it also offers fun activities for the whole family.

“There are many activities that will be happening at the Auto Show, so we hope to have the entire coastal families be part of the event and expecting them to leave with a car if not two. They can expect entertainment such as a body building show, fitness pole dancing, test drive opportunities and lots of competitions to keep vehicle enthusiasts shopping around for their next dream car,” Mengo stressed.

Standard Bank’s Head of Vehicle and Asset Finance (VAF), Wim Lotter, said that despite the fact that the automobile industry has been facing a few challenges, Standard Bank is not lagging back on the current headwinds and would like to partner with its loyal customers in the vehicle industry to create an awareness platform for them and generate sales for the Bank’s VAF clients.

“I am optimistic that Swakopmund Standard Bank Auto Show will be just as successful as our annual Windhoek based Auto Show. It is a great way to interact with potential clients and to expose brands to the general public. I would like to encourage our esteemed dealers and the general public to help make this Auto Show a great success the same way they have done for the Windhoek Auto Show,” he stressed. For those interested in jumping queue for their next vehicle purchase, they can bring along their ID, driver’s license, 6 months banks statement (if they do not bank with Standard Bank that is stamped), a marriage certificate if applicable, latest payslip and latest/valid proof of residence, as Standard Bank will have its consultants onsite for any new vehicle applications.

Namibia

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Namibia: Standard Bank Supports Retirement Funds Industry

Windhoek — In its ongoing quest to promote national development objectives in the country, Standard Bank is the only commercial bank gave its support to the launch of the Retirement Funds Institute of Namibia’s (RFIN) 11th Annual Conference slated for Swakopmund as on September 14 and 15.

The upcoming conference presents the opportunity for relevant stakeholders in this sector to deliberate on policies that continue to drive the economy and the Capital market by building dialogue confronting topical issues affecting the retirement industry and to network.

As a platinum sponsor, Standard Bank calls Namibia its home and it is passionate in driving her growth. To this note, the Bank has contributed N$50,000 towards this year’s RFIN conference, continuing with its support to this sector over the years.

“We are proud to be associated with RFIN, which has the role to protect, promote and advance the interests of retirement funds. This strongly aligns with our corporate investment banking Investor Services offering which encompasses the safekeeping of securities, securities settlements and the processing of corporate actions and income collection, Securities Lending, Investment Administration, Issuer Serves to mention but a few our service offering,” said Standard Bank’s head of investor services, Corny Zaaruka. She further added that Standard Bank is inspired to advance national development objectives. “We believe the conference is critical for joint collaborations as such deliberations through various speakers is important for the industry to reach common goals and objectives, well as enhance inclusivity,” added Zaaruka, This year’s RFIN’s conference will be held under the theme: “Contemporary Developments in the Local Retirement Funds Industry.”

Namibia

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South Africa: Minister Congratulates Standard Bank’s First Black CEO

Finance Minister Malusi Gigaba has congratulated Sim Tshabalala on his appointment as the sole Chief Executive Officer (CEO) of Standard Bank Group Ltd.

“As one of the leaders of the so-called Big Four banks, this is truly an affirmation of the capacity of black professionals, and a championing story for transformation in South Africa’s financial sector,” said Minister Gigaba on Tuesday.

Standard Bank announced on Tuesday that it had appointed Tshabalala as its sole and its first black chief executive. Standard Bank in 2013 appointed Tshabalala and Ben Kruger as joint chief executives after long-time head Jacko Maree stepped down.

“Along with the work that is currently ongoing in Parliament to address the slow pace of transformation in the financial sector, Mr Tshabalala’s appointment comes as a step in the right direction,” said the Minister.

Minister Gigaba wished Tshabalala well in his position. He also wished outgoing joint-CEO Kruger well as he steps down from the position.

South Africa

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Malawi: Standard Bank Launches Online Visa Debit Card Payments

Standard Bank is pleased to announce that its customers will now be able to pay for goods and services online using the bank’s VISA Debit cards.

Launching the offer, Acting Head of Personal Banking Webster Mbekeyani said it is an online, real-time payment settlement method that uses the bank’s security-enhanced VISA debit cards.

Mbekeyani said introduction of the offer represents a bold shift by the bank to offer convenience and efficiency of online transactions to suit customer lifestyles and needs.

He said with the offer, customers will be able to pay for goods and services online from international stores, merchants and services providers worldwide.

Payment of tuition and examination fees at international professional bodies such as ACCA, ABE, ABMA, City & Guilds, CIMA will now be easier and personalized than ever before.

“This offer is a part of the bank’s stride to make progress real for customers by providing them with electronic commerce capabilities that are flexible, safe, personalized and trendy. The on-line Visa payment offers limitless freedom to be one’s own boss or bank, by giving customers real power of purchase using their card,” said Mbekeyani.

He said Standard Bank’s Visa debit cards are embedded with a chip and pin to enhance safety of transactions online and over Point of Sale (POS) devices from any location in Malawi or abroad.

“We are proud to bring another first in our quest to make digital banking real and meaningful to customers. For speedy settlement, efficiency and safety, we encourage customers to use our Visa card service, and those not yet with Standard Bank, to make the switch to the bank that moves them forward,” he said.

E-commerce is the ability for people to do business online. This can be done either on business to business basis or business to person basis. For standard bank it is introduced on a person to business basis.

“For a long time Malawians have yearned for a solution that allows them to purchase goods on-line, and we at Standard Bank are proud to be responding to their need,” he said.

Other payment options available with the bank’s Visa card include air tickets, accommodation and access to purchase from popular online stores such as Amazon, e-Bay and Alibaba and entertainment sites such as I-store and NetFlix.

Malawi

Sex Workers Elect New Leadership

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South Africa: Gupta Banking Matter Resumes in Court

Pretoria — The Oakbay Investments Proprietary Limited banking matter will resume in the North Gauteng High Court this morning.

Finance Minister Pravin Gordhan approached the court seeking a declaratory order to stop the Gupta family from pressuring him to intervene in the closure of their companies’ accounts by various major banks.

Between December 2015 and April last year, the Big Four banks closed the accounts of the Gupta owned companies, which prompted the family’s request that the Minister intervene.

The banks are scheduled to make their submissions when the matter resumes today.

On Tuesday, the court dismissed President Jacob Zuma’s application to be admitted to the case as an interested party.

The Presidency said the President was cited as an interested party on the basis that he would be directly affected by the declaratory order that is sought by the 17th respondent, Standard Bank.

Standard Bank was seeking relief that would affect the President and other members of Cabinet without properly joining them as parties in the proceedings.

“For instance, the court would grant an order extending to the Presidency or Cabinet, compelling them to do or not to do certain things when they would not have been parties to the proceedings,” said the Presidency.

The Presidency said an affidavit was then placed before court to place on record the correspondence between the State attorney and Standard Bank attorneys to show the attempts of the Presidency to avoid the extended order they were seeking and the fact that we were not properly joined and should not be party to the proceedings, in the first place.

In their response, Standard Bank made it clear that they intended to persist with the relief they were seeking, notwithstanding the fact that the Presidency had indicated to them that without a proper joinder application, they were not a party to the proceedings.

The court ruled that the Presidency is not before court but could keep a watching brief.

South Africa

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Tanzania: Stanbic Bank Scoops Bank of the Year Award

Dar es Salaam — The Banker Magazine, the world’s longest running international banking publication, has named Stanbic Bank Tanzania as Tanzania’s “Bank of the Year 2016” at a recent gala awards dinner hosted in London. Standard Bank Group was also recognised for excellence in 5 other African markets.

Stanbic Bank Tanzania is a member of the Standard Bank Group, which was simultaneously named Regional Bank of the Year for Africa and also scooped Bank of the Year accolades in Botswana, Malawi, South Africa, Swaziland and Uganda.

The Banker’s judging panel reported that the Standard Bank Group’s operations in all six African countries had made the most progress over the 12 months, not only in terms of strong financials, but also in the wide range of initiatives which the banking group undertook during this period.

In particular, the awards recognised the strong management, sound business model and clear and effective strategy delivered consistently by the banking group across multiple jurisdictions.

Stanbic Bank Tanzania Chief Executive Mr. Ken Cockerill said: “We are delighted to have received these awards, which recognise our on-going investment in improving the customer experience.”

“Our customers are at the heart of everything we do, and our focus during the year was on building our relationships with our customers and getting a better understanding of their needs.” he added.

Standard Bank Group, Africa’s largest bank by assets, is present in 20 markets across the continent and in major global financial centres.

The banking group focuses exclusively on Africa, blending its global capabilities with local insights through established relationships that deliver a truly universal banking proposition to private, wealth, business, corporate and sovereign clients across the continent.

The Industrial and Commercial Bank of China (ICBC), the world’s biggest bank, holds a 20% stake in Standard Bank Group.

Through ICBC Standard Bank Group provides renminbi trading capabilities across the continent, linking Africa with the world’s fastest growing economies.

“These awards are a reflection of our commitment to Africa and to the shared future that we intend to create for our customers, our people and all our other stakeholders.” said Cockerill.

Tanzania

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Stanbic Bank Scoops Bank of the Year Award

Dar es Salaam — The Banker Magazine, the world’s longest running international banking publication, has named Stanbic Bank Tanzania as Tanzania’s “Bank of the Year 2016” at a recent gala awards dinner hosted in London. Standard Bank Group was also recognised for excellence in 5 other African markets.

Stanbic Bank Tanzania is a member of the Standard Bank Group, which was simultaneously named Regional Bank of the Year for Africa and also scooped Bank of the Year accolades in Botswana, Malawi, South Africa, Swaziland and Uganda.

The Banker’s judging panel reported that the Standard Bank Group’s operations in all six African countries had made the most progress over the 12 months, not only in terms of strong financials, but also in the wide range of initiatives which the banking group undertook during this period.

In particular, the awards recognised the strong management, sound business model and clear and effective strategy delivered consistently by the banking group across multiple jurisdictions.

Stanbic Bank Tanzania Chief Executive Mr. Ken Cockerill said: “We are delighted to have received these awards, which recognise our on-going investment in improving the customer experience.”

“Our customers are at the heart of everything we do, and our focus during the year was on building our relationships with our customers and getting a better understanding of their needs.” he added.

Standard Bank Group, Africa’s largest bank by assets, is present in 20 markets across the continent and in major global financial centres.

The banking group focuses exclusively on Africa, blending its global capabilities with local insights through established relationships that deliver a truly universal banking proposition to private, wealth, business, corporate and sovereign clients across the continent.

The Industrial and Commercial Bank of China (ICBC), the world’s biggest bank, holds a 20% stake in Standard Bank Group.

Through ICBC Standard Bank Group provides renminbi trading capabilities across the continent, linking Africa with the world’s fastest growing economies.

“These awards are a reflection of our commitment to Africa and to the shared future that we intend to create for our customers, our people and all our other stakeholders.” said Cockerill.

Tanzania

Cabinet Reshuffle ‘Imminent’ As Magufuli Picks Two to House

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Africa: Standard Bank Bags Best Bank For Continent Award

STANDARD Bank, Africa’s biggest lender by assets, has been awarded the Best Bank for South African Rand and the Best Bank for African Currencies excluding the Rand, in FX Week’s 2016 survey of the global foreign exchange industry.

The FX Week Best Banks Awards are the benchmark for performance in the global FX industry and the most accurate indicator of which institutions are leading the market, according to banks, corporate treasurers and investors.

Richard de Roos, Standard Bank’s Head of Foreign Exchange said: “We are very pleased to receive this recognition for Standard Bank. These are premier awards for currency market makers across the continent’s foreign exchange trading industry, and the stature and quality of the participants in this survey certainly make these awards extremely relevant and an achievement for which Standard Bank is duly proud.”

The FX Week Best Banks awards were decided following a qualitative survey, which polled industry participants to determine their ranking of the most relevant and significant market makers in the currency trading universe.

“These awards are not only a recognition of our relevance to the market but also validate our strategy to leverage our dominant position in our local franchise markets in order to extract liquidity for the purposes of solidifying our growing role in international currency markets,” said Mr de Roos. “The fact that we have been recognised by the major participants in the market shows that our strategy is paying off.”

This is the first year for the accolade for Best Bank for African Currencies excluding the Rand, which was awarded to Standard Bank.

“There’s a common misconception to the outside Africa trading community that all African markets act as a bloc with similar characteristics and limitations, whereas in reality, this couldn’t be further from the truth,” said Mr de Roos.

“Standard Bank has focused a lot of time and energy on understanding the nuances of each market in Africa by decentralizing the price making responsibilities away from the South African head office and has made each local market maker, the center of excellence in their own local currency. What this means for our global customers, is that each African FX price they receive from any of the Standard Bank/Stanbic entities, is onshore relevant.”

Standard Bank, which has a presence in 20 markets across Africa, is South Africa’s leading market maker and largest Rand trader, operating from 22 dealing rooms across the globe. Its widespread footprint across Africa means that Standard Bank is ideally positioned to maximise regional opportunities by using its operations to access multiple pools of liquidity from investors across Africa and the rest of the world.

The Best Banks survey is open to any foreign exchange end-user, including dealers, brokers, institutional investors and corporations, making them a highly accurate reflection of how foreign exchange professionals view their peers in terms of overall quality of service.

Nigeria: MTN Meets SEC On IPO, Seeks Concessions to Fast-Track Listing

By Goddy Egene with Agency Report

Nigeria’s biggest telecoms provider, MTN, has met with the Securities and Exchange Commission (SEC) to discuss a possible initial public offering (IPO) of its shares on the Nigerian Stock Exchange (NSE) and how it wants to structure the share sale.

According to Reuters, SEC Director General, Mounir Gwarzo, said MTN had discussed the possibility of issuing various classes of shares to targeted investor groups. He said the telecoms firm was looking at three different classes which would be new in Nigeria.

Gwarzo said the SEC was willing to support the share sale as long as it was within local laws and advised the telecoms firm to ensure retail investors were protected.

THISDAY checks further revealed that at the meeting, MTN also discussed the possibility of getting some concessions that will speed up the listing.

It was gathered that the joint financial advisers and issuing houses to MTN on the proposed IPO and listing – Standard Bank of South Africa Limited, Citigroup Global Markets Limited and Stanbic IBTC – accompanied the management of the company to the meeting with SEC.

“I can confirm to you that the management of the MTN Group and its advisors met with the SEC management. The main purpose was for them to ask for details of the procedure to embark on the IPO and the possibility of getting some concessions to fast-track the offer process.

“The commission is willing to assist the company to achieve its objectives,” a SEC source told THISDAY yesterday.

According to the source, the IPO would likely come up in the first quarter of 2017, depending on the economic situation in the country.

The meeting with SEC, notwithstanding, MTN is yet to formerly submit an application to the regulator for the IPO and listing of its shares.

MTN is the largest mobile phone operator in Nigeria with 57 million subscribers, and Nigeria accounts for a third of its revenue.

Africa’s biggest mobile phone operator had agreed to list its shares in Nigeria as part of a deal to pay a N330 billion ($1 billion) fine in cash to the Nigerian government for missing a deadline to disconnect 5.2 million unregistered subscribers.

Preparatory to the listing, MTN last month announced the appointment of Stanbic IBTC Capital Limited, its affiliates — The Standard Bank of South Africa Limited and Standard Advisory London Limited — and Citigroup Global Markets Limited as its Joint Transaction Advisors and Joint Global Coordinators, with Stanbic acting as Lead Issuing House.

MTN had said in a statement in July that it was targeting 2017 to list its shares on the NSE.

“MTN Nigeria is pleased to announce that its Board of Directors has resolved to proceed with preparations for a listing of MTN Nigeria on the NSE as soon as commercially and legally possible and has established a management task team with the responsibility to guide the company towards a listing.

“At present, MTN Nigeria is targeting that the listing takes place during 2017, subject to suitable market conditions,” the company had said.

It added that Stanbic IBTC Capital, the Nigerian arm of Johannesburg-based Standard Bank, would be the lead issuing house, while a full syndicate including Nigerian parties would be appointed in due course.

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