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Innovation 18 January 2019

Creating sustainable societies in Africa

New Year, New Beginnings.

At Standard Bank we understand that being a corporate means dealing with a variety of needs. As such our range of services gives you everything you need in one bank - from meeting the needs of your business through to those of your employees.

We also recognise our wide-ranging impact and the evolutionary nature of our role in society. Our Social, Economic and Environmental (SEE) principles are important value drivers for Standard Bank.  While providing traditional banking services has been our mainstay for decades, we appreciate the need to create shared value is essential to our long-term success, as well as those of the communities we serve.

As part of this journey, we’re working to embed our SEE framework to help us assess the social, economic and environmental impacts of our decisions and how best to create value for business in a way that also produces value for society. To drive sustainable and inclusive economic growth, we are focused on areas in which we can make a significant positive impact. Among these are Inclusive economic growth; Innovation, entrepreneurship and enterprise development; Education, learning and development; Employment and Financial inclusion. 

Finding innovative solutions to the challenges that Africa faces will make the realisation of the United Nations Global Sustainable Development Goals (SDGs) as well as Africa’s Agenda 2063 that much easier. Promoting sustainable development is key to achieving these goals.

Speaking at the US-Africa Investor Conference, Chief Executive, Africa Regions, Sola David-Borha, indicated that Africa’s infrastructure deficit offers U.S. investors a compelling investment case on the continent, offering attractive returns, while stimulating economic growth and driving productivity.

According to the Chief Executive of Corporate and Investment Banking, Kenny Fihla, much of Africa's future growth will emanate from infrastructure development and improvement projects. As many African countries look to diversify their economies away from a reliance on commodities and natural resources, foreign direct investment will play an increasingly crucial role. South Africa will continue to be one of the largest contributors of foreign direct investment into the rest of the Africa. 

Fihla is confident that government reforms in South Africa will stimulate economic growth by up to a percentage point by the end of 2019.

Standard Bank is about being more than a bank. In 2019, let us help you achieve your holistic ambitions.