Standard Bank, Africa’s largest banking group by assets, is partnering with the UK Government to sponsor the inaugural UK-Africa Investment Summit, which will be held in London on January 20, 2020.
The Summit will create new lasting partnerships between UK and African businesses, governments and institutions to deliver more investment, jobs and growth. These partnerships will benefit people and businesses across Africa and the UK. Hosted by the Prime Minister, the Summit will bring together UK and African businesses, African leaders and delegations, international institutions and young entrepreneurs.
The summit will cover topics including: Trade and investment, infrastructure development, sustainable finance, the role of the City of London in attracting African businesses to raise capital, clean energy, women’s economic empowerment and creating jobs for young people across the continent.
Commenting on the sponsorship, Sola David-Borha, Chief Executive, Africa Regions, Standard Bank, said: “We are proud to be a sponsor of this prestigious and important summit. Africa is home to many fast-growing economies and businesses, and it is very positive to see the recognition of the huge potential for UK companies and investors. Furthermore, improving socio-economic ties between the UK and Africa can only be mutually beneficial. There are an increasing number of African businesses and governments looking to the UK, and the City of London in particular, to access capital, as well as investment and commercial expertise across different sectors.
“British investors and businesses are increasingly recognising Africa’s potential and the role they can play in boosting the continent’s long-term growth – particularly through investments that have positive social, economic and environmental impacts. This well-timed summit will help to build significant and long-lasting commercial ties between the UK and Africa.”
Sola David-Borha will participate in a panel event on Sustainable Finance and will be meeting British and African leaders across business, politics and other institutions.
International Development Secretary Alok Sharma visited Africa ahead of the Summit.
Mr Sharma said ahead of his visit: “Africa has eight of the 15 fastest growing economies in the world but currently receives less than 4% of foreign direct investment. There are fantastic opportunities for UK businesses to work alongside, invest in and partner with African nations.
“At the UK-Africa Investment Summit in London on January 20, we will bring together UK and African businesses, African leaders, international institutions and young entrepreneurs to drive the investment Africa needs to flourish.I look forward to seeing many of you there.”
Standard Bank Group is the largest African bank by assets with a unique footprint across 20 African countries. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.
Standard Bank has a 156-year history in South Africa and started building a franchise outside southern Africa in the early 1990s.
Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth.
The group has over 53,000 employees, approximately 1,200 branches and over 9,000 ATMs on the African continent, which enable it to deliver a complete range of services across personal and business banking, corporate and investment banking and wealth management.
Headline earnings for 2018 were R27.9 billion (about USD2.1 billion) and total assets were R2.1 trillion (about USD148 billion). Standard Bank’s market capitalisation at 31 December 2018 was R289 billion (USD20 billion).
The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 20,1% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets.
