Standard Bank’s newly minted Business & Commercial Clients (BCC) division is dedicated to leveraging the power of small, medium and large enterprises to expand inclusive domestic business growth across Africa.
Gaborone-based BCC Southern Africa Head, Leina Gabaraane believes Africa is entering an exciting expansion phase, characterised by rapid private business formation and growth.
As such, Standard Bank’s BCC division is deliberately focused on partnering with businesses to build a capability ecosystem that will support small traders, agribusinesses and entrepreneurs to grow.
Africa’s existing large cross-border businesses, established corporates and global multinationals operating across the region, are already well catered for by the continents’ domestic and global banking community.
Southern Africa’s small businesses lead next phase of African growth
Africa must prepare for the inevitability of a global food crisis says AfDB President
African Development Bank Group President Akinwumi Adesina says “Africa must prepare for the inevitability of a global food crisis.” He was speaking about Africa’s priorities, as a guest at the Atlantic Council’s Africa Center on Friday.
Fielding questions from the Council’s Africa Center Chair, Ambassador Rama Yade; Senior Fellow Aubrey Hruby; and Washington/UN correspondent for Jeune Afrique and The Africa Report, Julian Pecquet, the Bank chief called for an increased sense of urgency amid what he described as a once-in-a-century convergence of global challenges for Africa.
According to Adesina, the continent’s most vulnerable countries had been hit hardest by conflict, climate change and the Covid-19 pandemic, which had upended economic and development progress in Africa. He said Africa, with the lowest GDP growth rates, had lost as many as 30 million jobs on account of the pandemic.
Speaking about the impact of the Russia-Ukraine war, Adesina expressed sympathy for the people of Ukraine, describing their suffering as unimaginable. He said the war’s ramifications spread far beyond Ukraine to other parts of the world, including Africa. He explained that Russia and Ukraine supply 30% of global wheat exports, the price of which has surged by almost 50% globally, reaching identical levels as during the 2008 global food crisis. He added that fertilizer prices had tripled, and energy prices had increased, all fueling inflation.
