StanChart in new drive to grow market share in Africa

Standard Chartered Bank has launched a drive to expand its presence in Africa. Dubbed Here for Africa, the new brand campaign will see the bank step up investment and leverage its footprint and international banking expertise to drive growth in Africa.

Contributing about 10 per cent of the Standard Chartered Group profitability, the African business supports over 1 million retail customers in Africa and over 25,000 commercial, corporate and institutional clients. The campaign has been launched barely four months since the Standard Chartered Group Chairman Sir John Peace visited Kenya during which he reiterated the Bank’s commitment to continue trading in Africa. Standard Chartered operates across in 38 African economies, 16 on a full-presence and 22 on a transactional basis.

Sunil Kaushal, the Regional CEO for Africa and Middle East says Africa is an integral and valuable economic partner within the Standard Chartered Group footprint. “We consider ourselves truly African – every one of our Sub-Saharan CEOs is African, our people who lead and manage our strategy are African, and our strategy is tailored to suit Africa’s specific trends and business dynamics,” said Mr Kaushal.

Kenya & East Africa CEO Lamin Manjang added: “Our commitment and support has been demonstrated through provision of finance required to achieve Kenya’s economic and social initiatives, funding to entrepreneurs and the unwavering support to our clients' growth aspirations.”