Saturday, 21 December 2024
Standard Bank opens Africa-China banking centre
Standard Bank has opened the world’s first dedicated Africa China Banking Centre (ACBC), providing a platform to link African and Chinese clients with China’s highly networked digital banking and customer knowledge systems.
The branch, which forms part of Standard Bank’s offices in Johannesburg, is staffed by bankers with Chinese language and cultural capability, offering clients consultation and advisory services via telephone, online or email.
In addition, six dedicated bankers will assist clients with day-to-day banking needs, such as card facilities and transactions, internet and self-service banking, cross-border payments, and foreign currency services and support.
The banks said it will develop the capability of the centre to help African enterprises connect with Chinese products and investment opportunities.
“Our strategic partnership with the Industrial and Commercial Bank of China (ICBC) will help us realise the full potential of deepening Africa-China trade and investment in a unique growth corridor – the development of this dedicated banking centre for Chinese clients in South Africa being one of the practical transactional platforms that cements our relationship,” said George Lo, Head of Africa China Banking at Standard Bank.
Lo said there was also room for further investment in Africa China Banking Centres in other African countries, with Kenya, Zambia, Nigeria and Ghana earmarked as locations before the end of 2017.
“This is the scale of our challenge, but also the scale of the opportunity that Standard Bank and ICBC are uniquely placed to realise.”
Re-disseminated by The Asian Banker from Businesstech.co.za
