$120bn Trade Finance Gap is Holding Back Africa’s Growth

Lack of access to affordable trade finance is holding back the economic and employment potential of African countries, says Stanbic Bank a member of Standard Bank. According to the African Development Bank’s (AfDB) recent report on trade finance in Africa, the conservative estimate for the value of unmet demand for bank-intermediated trade finance is between

Standard Bank Group and MoneyGram Strengthen Bond

MoneyGram, a leading global money transfer company, has extended its relationship with Standard Bank Group. MoneyGram’s services are available at over 500 Standard Bank Group locations in 12 countries in Africa. On signing the renewal agreement to this week, Pamela H. Patsley, MoneyGram’s chairman, said: “MoneyGram is focused on growing our presence in Africa through

Standard Bank Tops Financial Health Ranking in Africa

Standard Bank Group shows the best financial health of all the financial institutions on the African continent, according to The Banker Top 1000 World Banks 2014 rankings. They top the list in Africa with Tier 1 capital of US$10.57-billion and pre-tax earnings of US$2,9-billion. However, the list also shows that they slipped in the global

Standard Bank Africa Investors Conference 2014 kicks off in London

Standard Bank are bringing together policymakers, investors and corporates to discuss investment in Africa at the Standard Bank Africa Investors Conference that kicks off at the Standard Bank London offices. Finance ministers from several key African countries, including Nigeria, Ghana, Uganda and Zambia, as well as central bank governors and deputy governors, will attend the

Standard Bank Explains the New Unutilised Facility Fee for Business Accounts

As part of Standard Bank’s Business Banking offering they offer access to an overdraft facility up to an agreed limit. Under the new Basel rules, banks are required to raise the quality and quantity of the regulatory capital base. In their statement Standard bank said: “As a bank, we are obliged to hold capital against

Standard Bank Group Sees Continued Demand for Pan-African Banking Solutions

Standard Bank Group is seeing a continuation of demand for its services from international commodity traders and rapidly expanding regional and local businesses in Africa. This follows the withdrawal of several global lenders from the continent in the wake of the global financial crisis. The pull-back forced on global banks by the global economic slowdown,

Standard Bank Launches Mobile Payment Solution

Standard Bank has announced the launch of their mobile payment app, SnapScan. This is the bank’s first mobile payment offering that allows merchants to receive payments from their customers through a combination of a QR code and a secure PIN number. According to Standard Bank’s Head of Innovation and Channel Design, Vuyo Mpako, “We are

SA Banks Hit with R125 Million Fine

The South African Reserve Bank (SARB) conducted AML/CFT (Anti-money laundering and combating the financing of terrorism) inspections at Absa Bank Limited (Absa), FirstRand Bank Limited (FirstRand), Nedbank Limited (Nedbank), and The Standard Bank of South Africa Limited (Standard Bank). In terms of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), the SARB is

Global Finance Awards Puts Standard Bank First in Africa

Standard Bank Group has been chosen as the Best Bank in Africa by Global Finance magazine. In addition, they also received the country awards for Angola, South Africa and Uganda in Global Finance’s World’s Best Emerging Markets Bank Awards 2014. Global Finance has also named Standard Bank Group as the Global Best Investment Bank in

SA’s Standard Bank Releases Mobile App

South Africa’s Standard Bank has announced the release of a new mobile app, offering increased functionality to its client base. The app is available on Android and iOS tablets with an additional release due later this year increasing flexibility on smartphones. “Standard Bank’s app for tablets is set to transform mobile banking and the way