Standard Bank eyes expansion into francophone West Africa

With more than 1,800 staff, Stanbic employs more people than any other bank in Uganda. Management has had to think of ways to keep costs lower while the maintaining full coverage of the country. Such strategy has come at the cost of reducing employment and having to relocate some of their branches to rather cheap locations.

    South Africa’s Standard bank is set to expand its operations into francophone West Africa.The bank is riding on a chinese investment drive into Ivory Coast to establish a foothold in the region.Chinese authorities and companies have committed over $7.5 billion over the next few years to invest in infrastructure in the Ivory Coast. “By virtue of our relationship with the ICBC (Industrial and Commercial Bank of China) we think we’re in a position to provide advice, structuring and the capability to deploy the resources necessary to get involved…

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