News

By Patrick Mweheire, Regional Chief Executive, East Africa, Standard Bank Group

Standard Bank Group will host its 9th annual Kuunda Disrupt Hackathon. This dynamic two-day event is geared towards harnessing the creative power of its people to tackle client pain points. These solutions will harness cutting-edge technology while aligning with Standard Bank’s digital strategies and core values.

Africa’s largest bank by assets, Standard Bank, and one of the world’s leading banks, the Industrial and Commercial Bank of China (ICBC) have renewed their strategic cooperation partnership for another five years. The partner institutions continue to lead the Africa-China trade and investment markets, jointly providing unequalled expertise and capabilities to individuals and businesses trading between Africa and China.

Standard Bank Group recorded headline earnings of R21.2 billion in the six months to 30 June 2023 (1H23), up 35% relative to the prior period (1H22) and delivered a return on equity of 18.9%. This performance can be attributed to the group’s differentiated franchise and Africa-focused strategy.

Although small and medium businesses (SMEs) account for 95% of all registered businesses and contribute about 50% to the total GDP of sub-Saharan African countries, entrepreneurs still face major obstacles to growth and prosperity. Addressing their needs is essential to creating a prosperous Africa, says Standard Bank.

Stanbic Bank says it is committed to focus on the growth of local businesses and is well positioned to offer fit for purpose banking services to local businesses in the country.