Standard Bank strengthens relationship with Chinese community
By Melania Simeon
Windhoek – Standard Bank held a gala dinner to revel and reflect on their thriving working relationship with the Chinese community in Namibia, drawing them closer into the fold.
The dinner, which was held on Thursday, 20 July, was attended by the bank’s executives as well as the local Chinese business community, who were eager to hear about the bank’s latest offerings.
Standard Bank public relations and communication manager Surihe Gaomas-Guchu said the Chinese business community in Namibia has contributed vastly to the socio-economic development of the country, making them a worthwhile ally.
Speaking at the dinner, Standard Bank’s chief executive, Vetumbuavi Mungunda, expressed gratitude to the Chinese community, saying there was a long standing relationship between them and the bank which he wanted to continue and strengthen.
“I am proud that Standard Bank is at the centre of Chinese business, investments and projects because the bank understands and responds to the needs and requirements of Chinese people in Namibia,” he said.
“I want to continue this great symbiotic relationship, not only in Namibia, but across the continent as a whole for a long time to come,” he said,
In February 2015, the Industrial and Commercial Bank of China Limited (ICBC) acquired shares in Standard Bank’s London-based global markets business.
The marriage of ICBC and Standard Bank created a platform to serve the growing demands of Chinese clients for global commodities, fixed income, equities products and currency while continuing as a distribution platform for African risk.
Standard Bank’s Mary Liu, who is based in South Africa, recently gave a presentation on the new Africa China Banking Centre (ACBC) in Johannesburg where she confirmed that the centre is aimed at linking African and Chinese clients with China’s highly networked digital banking and customer knowledge systems.
“The ACBC is the first entity of its kind…It provides a virtual hub that connects Africa and China, online banking services, integrates personal and business banking needs and facilitates win-win partnerships,” Liu explained.
“We are unlocking China and moving Africa forward,” she added.
Trade between Namibia and China has been on the increase, with the latter being Namibia’s sixth largest export market, boasting growth in local exports to China valued from N$939 million in 2011 to N$1.9 billion in 2014.