Nigeria

The government’s drive to increase foreign direct investment and promote growth is set to create significant new opportunities for domestic and international organisations, as well as for investors in the local economy. Opportunities abound in energy, minerals, telecommunications and retail. However, the country must escalate investment and delivery in transport, power and infrastructure if it is to realise its potential. Diversification of the economy is a key focus for the country.

Nigeria is making a number of changes in the financial services sector, including a central bank programme to reduce the amount of physical cash in circulation as well as an electronic banking environment. There are also moves to privatise the power sector and increase local ownership in the oil sector, presenting tremendous local opportunities.

Nigeria has a liquid capital market and approximately 250 listed securities on the Nigerian Stock Exchange.

Quick view:

• Population: 175 100 000
• Nominal GDP: USD546 billion
• Real GDP growth: 6.2%
• Consumer inflation: 8.1%

Oil and gas is a vital sector in the Nigerian economy, and it serves to broaden local ownership and participation point to the rising importance of local players. Privatisation of the power sector also presents significant opportunities for business. Stanbic IBTC has the experience to support local and international clients with financing and advisory requirements in supporting this transition.

With an increasing focus on diversifying its economy, Nigeria presents significant opportunities for local beneficiation and diversification into areas such as high-quality manufacturing and food production. As vital enablers of economic growth, activity in construction and infrastructure continue to gather momentum.

Nigeria is seeing the benefits of quality international providers on the local economy, across retail, media and telecommunications, technology and services. This is being supported by a small but growing base of consumers. Stanbic IBTC Bank’s expertise in commodities and general commerce is helping to connect multinationals with this emerging market.

Foreign businesses and investors account for around 90% interest in the FMCG sector. Besides a comprehensive suite of business and corporate and investment banking products and services, Stanbic IBTC Bank has a dedicated team to provide day-to-day advice and support to foreign clients. This covers areas like security and transport, and provides active support for clients in establishing a business, building relationships and finding success in the local market.

Read more about Standard Bank Group’s sector specialism.

The Corporate & Investment Banking offers:

Transactional banking

With competitive and flexible full banking services, we provide a comprehensive range of financial and business solutions for clients’ basic and complex banking needs. These cover the spectrum of local and offshore accounts, cash and liquidity management, and electronic banking.

Global Markets

Stanbic IBTC Bank Global Markets is a team of traders, analysts and sales managers with experience and specialisation across the treasury function. The team is supported by a network of treasuries across Africa along with the Standard Bank treasuries in London and South Africa. The offering includes trading, sales structuring and derivatives, and asset and liability management.

Specialised finance

The bank offers corporate banking, project and structured finance, property finance and portfolio management, with the expertise to support your business in making the right choice.

Trade finance

The bank specialises in providing innovative solutions in complex international trade finance transactions. They provide expertise in import and export trade to specific clients as well as quality banking services in a fraud-free and confidential environment. Products and services include import and export trade finance, letters of credit, bills for collection, and pre- and post-export financing.

Foreign exchange

Stanbic IBTC Bank provides an all-encompassing international banking service, ranging from the facilitation of cross-border transactions and settlements, exchange control advice and cross-border risk assessment, to the structuring and execution of foreign exchange hedging solutions. This includes foreign exchange purchases and sales, and domiciliary accounts in major currencies.

Custodial services

Managed by its subsidiary, Stanbic IBTC Nominees Ltd, the bank offers leading services for holding internationally traded securities and other documents of title for a range of clients, including private clients, banks, asset managers, corporates, trustees and employee share option schemes. It acts as custodian for private and public collective investment funds, including venture capital, private equity and hedge funds. It also offers settlements of trades and other corporate actions.

Read more about corporate and investment banking solutions for your business.