Standard Bank group has expanded its East African footprint with the opening of a representative office in Ethiopia. This has increased the banks’ presence in Africa to 20 countries.
Standard bank chief executive Ben Kruger yesterday said the Addis Ababa based office will act as an entry point for clients seeking to invest in Ethiopia. The bank already has presence in Kenya, South Sudan, Tanzania and Uganda.
It will be administered by Standard bank’s head office in South Africa
“We are able to leverage our strong position on the continent, our strategic partnership with the Industrial and Commercial Bank of China (ICBC), and our sector expertise in natural resources, to facilitate capital investment,” Kruger said.