Power outages cost more than 5% of gross domestic product (GDP) in Malawi, Uganda and South Africa. This and other problems caused by Africa’s inadequate power infrastructure have resulted in a strategic financing relationship between Standard Bank Group and General Electric.
We reaffirmed our partnership to bridge Africa’s energy financing gap at a Power Financing roundtable in Washington DC, USA. A financing agreement of US$350-million has already been confirmed by Standard Bank Group and General Electric.
Africa offers multinationals in the United States a compelling trade and investment opportunity thanks to the rapid economic growth rates being experienced across the continent along with burgeoning population growth and increasing urbanization.
Economic growth in sub-Saharan Africa has exceeded 5% a year for more than a decade now giving the continent a 4.1% share of global gross domestic product (GDP), up from 3.4% in 2000. By 2050 one in four of the world’s population will reside in Africa with at least 60% of the continent’s people living in urban centres.
The United States’ Commerce Secretary Penny Pritzker has revealed that deals worth almost US$1-billion would be announced during US President Obama’s US-Africa Leaders Summit being held early in August.
This is the first summit of its kind and the largest event that any US president has ever convened with African heads of state or government. President Obama will host leaders from across Africa in Washington DC for the event.
Standard Bank has again been chosen as the most valuable bank brand in Brand Finance South Africa's annual report on South Africa’s 50 most valuable brands.
MTN retained its position as the country`s most valuable brand, increasing its total brand value to US$5.38-billion (R57.13-billion) from US$5.17-billion in 2013, while Sasol came second, up one position from the previous year; and Vodacom came third, down one position.
The brand "Standard Bank" retained fourth placed position overall but came out as the country`s most valuable bank brand at US$1.59bn (R16.88bn).
Our colleagues at CfC Stanbic Bank in Kenya have opened the first ever digital experience bank branch in the country. The branch in Mombabsa's Nyali Centre Mall is set to radically alter the way customers take care of their financial needs and conduct their daily banking business.
Download the latest episode in South Africa's favourite radio soapie. It is also available in other languages at http://blog.standardbank.com/south-africa.
In this episode Mlu and Grace are supposed to go for counselling but Mlu is nowhere to be found. Has he gone back to drinking? Will they find him in a tavern?
When he eventually comes home, he gets very defensive when Grace confronts him. He says he was visiting his mother and didn’t have airtime to call Grace back. Why didn’t he use cell phone banking to recharge? Find out how this all plays out.
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.
We 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 we slipped in the global rankings, from 109th place in 2013 to 116th this year.
Saving is hard for everyone which is why initiatives like Savings Month are so important. No better time like now to start saving.
Putting money away for a rainy day doesn’t come naturally for most of us, so the key is to start small. Contributing what you can, will help you develop the habit.
Here are some tips on how to build that savings habit:
1. Set a goal and ask yourself, what do you want to save for? This will help you decide what you would like to do with the money you save.
Standard Bank Group together with the Talk Radio 702 revved up the Truck of Love engines once again, delivering a variety of goods, gifts and essentials to charities over the past week.
Part of 702’s birthday celebrations, they decided to do things a bit differently by surprising hard-working organisations with a little bit of love.
Standard Bank Group has take second place for the best financial services companies and ranked 12th in the South African magazine Financial Mail’s Top Companies survey. This is an annual snapshot of how companies in South Africa are performing in both relation to their peers in particular sector and against the market as a whole.
The South Africa's largest companies are assessed on turn over, net profit and market capitalisation performance in the context of broader economic and political trends, both locally and globally.