Standard Bank joins in Africa Day celebrations
Standard Bank Namibia sponsored N$5 0000 towards the African Group Heads of Mission’s Africa Day Jubilee celebrations to be held over the weekend.
Standard Bank Namibia Chief Executive Mpumzi Pupuma handed over the sponsorship to the Dean of the African group, Ambassador of the Democratic Republic of Congo in Namibia Anastas Kaboba Wa-Kimba, to commemorate the 50th anniversary of Africa Day.
“They call it Africa, we call it home. Standard Bank Namibia is proud of our entire group’s achievements in Africa. Standard Bank is the largest African bank by assets and earnings. The group operates in 18 countries across the continent, including Namibia. The bank has built an intrinsic understanding of what it means to do business on the continent, demonstrating our understanding of unique local conditions, cultures and market drivers,” said Pupuma.
The bank also sponsored a floating trophy for the mission’s African Day soccer match to be played on Saturday and the rest for cultural activities.
Standard Bank Group has been doing business in Africa for 150 years; Namibia is a wholly-owned subsidiary of the Standard Bank Group and locally it was the first commercial bank to open its doors in Luderitz on the 19th of August 1915.
As a diverse banking group, normalised earnings for 2012 were N$15 billion and total assets were R15 billion (about US$ 183b).
Standard Bank group’s market capitalisation at 31 December 2012 was N$19 billion (about US$ 23b).
The group’s largest shareholder is Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 20.1% shareholding.
In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow commercial between Africa, China and select emerging markets.