Standard Bank Group Archives - AfricaBusiness.com

12Nov

By Africa BusinessNo Comments

Standard Bank Group leads US$550m Shoreline Natural Resources facility

Standard Bank Group, as mandated lead arranger and bookrunner, has closed a US$550,000,000 syndicated bank guarantee and bridge facilities for Shoreline Natural Resources. This is one of the largest finance deals completed in Nigeria so far in 2012. Shoreline has used the facility to acquire 45% in OML 30, an oilfield in the Niger Delta of Nigeria, from 1 November 2012. China Development Bank joined Standard Bank Group as mandated lead arranger. They were joined by lead arrangers Ecobank Nigeria and First City Monument Bank. The facility was fully underwritten by Standard Bank Group. It was signed with Shoreline on 29 June 2012, has a 12+6 month tenor and is structured as a bank ...

10Nov

By Africa BusinessNo Comments

South Africa News

Standard Bank Group to scale back its international operations

Given the challenging global economic climate and evolving regulatory regime for banks, Standard Bank Group's Corporate & Investment Banking business (CIB) is continuing to right size its international operations in a responsible and deliberate manner. As part of this process, CIB will be driving higher levels of efficiency in both its front and back offices, and is planning to scale back certain product lines and geographies. These actions will be focused on CIB's geographic footprint outside Africa excluding Latin America. Says David Munro, Chief Executive, CIB: "Our strategic positioning remains strong. However we continue to seek ways to simplify our business, reduc...

10Nov

By Africa BusinessNo Comments

Energy, Green Energy

Standard Bank Group commits R9.4bn to first batch of renewable energy projects

Standard Bank Group has emerged as the leading investor in the first round of South Africa's renewable energy independent power producer (REIPP) procurement process, backing a total of 11 wind and solar projects. Standard Bank Group will provide comprehensive corporate and investment banking services to all its clients, including underwriting R9.4-billion worth of debt, providing interest and currency hedges, carbon trading credits, and corporate bonding and guarantee facilities. Standard Bank Group has also taken an equity stake in four projects. The South African government's allocation of 1,416MW for this first round of the procuremnt process has translated...

30Oct

By Africa BusinessNo Comments

African News, Energy, Green Energy

Standard Bank Group ranked South Africa’s greenest company

Standard Bank Group has been ranked South Africa's "greenest" company in the 2012 Newsweek Green Rankings. Standard Bank Group was ranked 21st globally in the Financial Sector category and 64th overall. Other South African companies included in the rankings were MTN, Bidvest and Sasol. Newsweek, an international weekly news magazine, publishes the Green Rankings annually, focusing on the largest publicly traded companies in America (US 500 list) and worldwide (Global 500 list). Each list consists of the largest 500 companies by revenue, market capitalisation, and number of employees, as at 30 June 2012. To produce the 2012 Green Rankings, Newsweek collaborated with leading environmental research providers, Trucost and Sustainalytics, to assess each company's environmental fo...

25Oct

By Africa BusinessNo Comments

South Africa News

Standard Bank Group gets behind the Orange Africa Cup of Nations, South Africa 2013

Football legends from throughtout Africa will join Standard Bank Group in celebrating the countdown to the upcoming continental football showpiece, the Orange Africa Cup of Nations, South Africa 2013. These legends will the ambassadors in the tournament's official Trophy Tour as well as the Players' Escort Programme. Standard Bank Group is the exclusive sponsor of the Trophy Tour and partner to the tournament's Player Escort Programme. With the Orange Africa Cup of Nations, SOUTH AFRICA 2013 to be staged in five South African cities from 19 January to 10 February next year, Standard Bank Group is giving football fans in various counties in Africa the opportunity to get up close to the coveted trophy at selected venues. Members of the public will be given the opportunity to...

17Oct

By Africa BusinessNo Comments

African News, South Africa News

Cat Financial and Standard Bank Group collaborate in Africa

Caterpillar Financial Services (Dubai) Limited (Cat Financial), an indirect subsidiary of Caterpillar Inc. and a wholly owned subsidiary of Caterpillar Financial Services Corporation, the largest financier of Cat® machines worldwide, and Standard Bank Group, Africa's largest banking group, have entered into a collaboration agreement through which Standard Bank Group will provide a range of financial services to Caterpillar customers in six African countries. The collaboration will be branded "Cat Financial Services, Services Provided by Standard Bank Group". The Cat Financial and Standard Bank Group co-branded asset finance will be offered in Nigeria, Kenya, Uganda, Tanzania, Ghana, and Sierra Leone, which are countries covered by the Mantrac Unatrac Group of Cat dealerships....

22Jul

By AfricaBusiness.comNo Comments

African News, Algeria News, Egypt News, Ethiopia News, Mauritius News, Nigeria News, South Africa News, Zambia News

Africa to gear up for more meaningful engagement with China

The partnership with China should aim to boost Africa's overall capacity, competitiveness and trade in a way that supports African development. African nations must use the Forum on China-Africa Cooperation to complement the continent's regional institutions and policy agenda. This is according to a report by Standard Bank Group economists Jeremy Stevens and Simon Freemantle ahead of the fifth Forum on China-Africa Cooperation (FOCAC) in Beijing, China, that starts on 19 July 2012. Jeremy Stevens, Standard Bank Group's Beijing-based economist, says that the summit comes at a time when China is distracted by domestic economic challenges and political matters. Meanwhile Africa is now even more reliant on China, in particular Chinese demand for African commodity exports, but even ...