Africa’s largest bank holds board meeting in Zambia

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A powerful delegation of the global Standard Bank Group Board of directors met on Zambia last week to hold their first-ever board meeting outside South Africa.

Apart from holding the board meeting on November 30, the directors also visited some operations of Stanbic Bank Zambia – a subsidiary of the Standard Bank Group – and addressed Stanbic bank staff.

Standard Bank Group Board Chairman Thulani Gcabashe said the Group was happy to hold the first board meeting in Zambia, which remained important to the group’s success.

“We had a very exciting visit and it was beyond what we expected. The decision to come here was actually an easy one. We conferred, and all agreed that we had to come to Zambia. When I hear about the phrase “Zambia is our home, we drive her growth” it resonates very well with what’s happening,” he said.

Standard Bank Group Executive Director Ben Kruger said the Group’s Zambian operation was poised to become one of the most profitable businesses in Africa.

“For us, looking at what Zambia has achieved over the last 10 years, is a humbling experience…It’s certainly an incredible target that Zambia becomes one of the most profitable businesses on the African continent. What’s even better is the way you go around that; the focus on customers and making sure that build a business that’s sustainable for the generations to come,” he said.

And Standard Bank Group Africa Regions Chief Executive, Sola David-Borha, said the group’s success was on account of its invaluable leadership team, which had continued to perform beyond expectations.

“There’s no other financial institution in Africa that has the kind of leadership that we have. We are the envy of all of them on the continent. Our expectation is that the African region will continue to increase the percentage of contribute to our group headline earnings. Stanbic Zambia is positioned to be a great institution in the years ahead,” she said.

David-Borha added: “The challenges the Zambian team has gone through reassure us that no matter what’s going on in our beloved continent, we have the capacity to walk through all these challenges. The teams are mature, capable and responsible. Our greatest assets are the people; the leadership teams that we have in all these countries. We have to continue to ensure that we invest in our teams and talents that we have. That should give you the comfort that for all those sideward risks we have, the teams are in good hands.”

The Standard Bank Group is Africa’s largest financial services groups by assets, operating in 20 countries across Africa and other key markets around the world including the US, UK, Brazil, China, United Arab Emirates, Hong Kong, Jersey and Isle of Man.


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Start: 2019-07-01 End: 2019-07-31