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The Cairo office would mainly focus on supporting financing, trade and investment flows for Egyptian corporates and multinationals across the bank’s network.
Standard Bank Group, Africa’s biggest lender by assets, opened a representative office in Egypt.
Speaking at a launch event by the Pyramids of Giza, Chief Executive Sim Tshabalala said the bank was seeing “increased movement of clients, capital and goods between Egypt and Africa”. He added that with African growth around 4.5% and Egypt running higher, “Egypt will push African growth higher.”
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The Johannesburg-based group operates in 21 African markets and global hubs including London, New York, Beijing, and Dubai. The Cairo office would mainly focus on supporting financing, trade and investment flows for Egyptian corporates and multinationals across the bank’s network.