Home | News    Monday 2 September 2013

CfC Stanbic Bank eyes S. Sudan private sector

separation
increase
decrease
separation
separation

September 01, 2013 (JUBA) – CfC Stanbic Bank, a subsidiary of Standard Bank Group, is determined in its approach to provide banking solutions in support of the private sector in South Sudan.

JPEG - 24.7 kb
In this file photo of 1 September 2013, South Sudan’s Salva Kiir greets a CfC Stanbic staff as the bank’s country head Victoria Otieno (C) looks on (Photo: Larco Lomayat)

The bank, which was officially opened in South Sudan mid-last year, joins other financial players in efforts to steer the economy of the once war-ravaged country.

Its entry into the young nation’s market, it said then, came amid plans to raise additional capital, through a rights issue to fund its growth strategy.

“We have a strong and long relationship with the people of South Sudan and its government and see our branch opening in South Sudan as a vote of confidence in the country’s future,” noted Greg Brackenridge, CfC Stanbic Bank’s managing director.

The bank, officials say, also offers range of services available in conventional banking, while establishing relationships with the individuals, corporations, businesses and investors in South Sudan.

The entry of the bank in to the new nation, analysts say, will enhance economic diversification by attracting investments in the energy sector, infrastructure development and agriculture.

Since its inception, a year ago, the bank has reportedly supported the country in various ways, including providing organizational trainings, conferences and capacity building in different areas.

LINE OF CREDIT

Meanwhile, CfC Stanbic Bank was at the forefront of the successful structuring of the $11m trade line, which enabled the state-owned Nile Petroleum Corporation (Nilepet) to continuously import fuel into the country.

Recently, the bank signed a $100m trade credit and foreign exchange lines with South Sudan government to support business continuity and economic growth in the country.

Currently operating in 18 African countries, including South Sudan, Kenya and South Africa, among others, Standard Bank; also trading as Stanbic Bank, is reportedly Africa’s biggest bank by assets and earnings.

The bank also operates in 13 countries outside Africa.

(ST).

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 2 September 2013 19:04, by Bauer

    Hoping that in addition to energy, infrastructure development and agriculture you may as well include health because it plays a very big role in all that. Without good health all the above you outlined will not be effected as you know health is wealth.Proud of you Stanbic Bank and hope to see South Sudan going to greater heights through your services only if corruption can be reduced greatly....

    repondre message

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Egypt final push to secure zero-sum water-share agreement 2019-12-09 14:11:32 By Ermias Hailu After Egypt’s failure to integrate Eritrea to its territories by the end of the second world war, due to Emperor Haile Selassie’s superior diplomatic skills, the then Egyptian Pan- (...)

Defending kleptocrat is like defending devils before God 2019-12-09 12:34:30 By Zechariah Makuach Maror On Friday 6. Dec. 2019 the Dawn newspaper published an article in it Vol.4 Issue 1111 written by a clumsy writer called Peter Wek Ayom Wek titled "response to (...)

What if Dr. John Garang were alive today? 2019-12-05 08:21:57 By Nhial T. Tutlam Let’s imagine that on the fateful day of July 30, 2005 the helicopter carrying Dr. John Garang from Uganda back to his base in Southern Sudan arrived safely. Let’s further (...)


MORE






Latest Press Releases


S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)

Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)


MORE

Copyright © 2003-2019 SudanTribune - All rights reserved.