South African lender Standard Bank has expanded its presence in East Africa with the launch of a representative office in Ethiopia.
The office, based in Addis Ababa, will serve as an entrance for clients looking to invest in Ethiopia. It will be administered by Standard Bank’s head office in South Africa.
The new Ethiopia office adds to the bank’s footprint across four key markets in the region including Kenya, South Sudan, Tanzania as well as Uganda.
Standard Bank chief executive Ben Kruger commented: "As such, establishing a presence in Ethiopia is in recognition of the increasing interest by investors and our clients, in the country’s economic growth. Standard Bank will be well-positioned to take advantage of the cross-sectorial investment opportunities both in Ethiopia and the region as a whole.
"Our experience in East African markets will benefit all our clients by providing them with insights into how best to capitalise on their investments in the region."