Standard Bank pulls summit feat

STANDARD Bank, Africa’s largest banking group by assets, of which Stanbic Bank Zambia is a member, has partnered with the United Kingdom (UK) government to sponsor the inaugural UK-Africa Investment summit held in London on Tuesday. The summit created new lasting partnerships between UK and African businesses, governments and institutions to deliver more investment, jobs and growth.

The partnerships have the potential to benefit people and businesses across Africa and the UK.

Hosted by Prime Minister Boris Johnson the summit brought together UK and African businesses, African leaders and delegations, international institutions and young entrepreneurs. Standard Bank chief executive oficer for Africa Regions Sola David-Borha said: “We are proud to be a sponsor of this prestigious and important summit.

Africa is home to many fast-growing economies and businesses, and it is very positive to see the recognition of the huge potential for UK companies and investors.

“Furthermore, improving socio-economic ties between the UK and Africa can only be mutually beneficial,” he said.

Mr David-Borha said there were an increasing number of African businesses and governments looking to the UK, and the City of London in particular, to access capital as well as investment and commercial expertise across different sectors. “British investors and businesses are increasingly recognising Africa’s potential and the role they can play in boosting the continent’s long-term growth – particularly through investments that have positive social, economic and environmental impacts.

“This well-timed summit will help to build significant and long-lasting commercial ties between the UK and Africa,” he said. Mr David-Borha said he would participate in a panel event on Sustainable Finance and would be meeting British and African leaders across business, politics and other institutions.

And International Development Secretary Alok Sharma, who visited Africa ahead of the summit said: “Africa has eight of the 15 fastest growing economies in the world but currently receives less than 4 percent of foreign direct investment.”