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Standard Bank Namibia financed the development of 164 residential units and 1,343,sqm retail area in a high rise building known as 77 On Independence. The development loan of N$ 166 m is required for a 24 month period on a cost to complete basis and will be paid in full on maturity from the net sales income generated from the sale of the subject units.
Stanbic IBTC facilitated a strategic partnership between Food Concepts Plc, a Nigerian-based company and Pioneer Foods (South Africa) which culminated in a capital injection of USD7 million into Food Concept’s baked goods business.
Standard Bank is proud to have played a key role in expanding the Oceana Group’s international footprint through its R4.6-billion acquisition of Daybrook Fisheries, a leading fishing company in the USA. The acquisition was completed in July 2015. Oceana is the largest fishing group in Africa, listed on the JSE with a market capitalisation of R14-billion (US$1-billion).