As we reported a couple of years ago, Standard Bank has as part of their growth strategy a commitment to move into francophone Africa. This continues to be the case, including their foray into Cote d’Ivoire:
” The pan-African lender plans to use the market as a gateway to expand across the francophone West Africa region.”
“The Standard Bank group, now in 20 African markets, aims to open its first branch in Abidjan by the end of the first quarter of 2017. According to Boyer, around 60% of the market share is held by five banks and there is potential for Standard Bank to introduce retail banking operations. However, he added the strategy is to grow slowly.”
“While South African companies have grown their African footprint across a number of English-speaking markets, they have typically been slower to expand to French-speaking countries – a result of challenges posed by the language barrier.”
But as we can see, this reluctance to go into francophone (and even lusophone) Africa, is changing, and the prospects for growth are there for these South African companies, including the banks, and for you as an investor.
Find out where we’re going with these Africa investment ideas and concepts by signing up for our free newsletter! Sign up in the box to the right, and as a gift for doing so, get our FREE report: “How to Profit From Africa’s Growth Without Leaving Home”. So what are you waiting for? Do it right now!
“Why Standard Bank is expanding to francophone West Africa”: http://www.howwemadeitinafrica.com/standard-bank-expanding-francophone-west-africa/55342/