Standard Chartered leads dialogue with continental experts at Africa Summit

Standard Chartered has reinforced its commitment to  accelerating Africa’s economic resilience and long-term development through trade  finance, sustainability finance and infrastructure investments, following the recently  concluded Africa Summit held in Lagos. 

Buttressing its commitment to the continent, the Africa Summit in Nigeria, served as a  platform to discuss Africa’s resilience and growth opportunities in a global system. It brought  together thought leaders within the public and private sector including H.E Dr. Jumoke  Oduwole, Minister of Industry, Trade and Investments; outgoing President of the African  Development Bank Group, Dr. Akinwumi Adesina; Aliko Dangote Founder and  President/Chief Executive of the Dangote Group; Hakeem Belo-Osagie, Senior Lecturer  Harvard Business School /Chairman, FSDH Group and Raj Gupta – Chairman of the African  Industries Group (AIG) in Nigeria, among others. 

To support Africa’s resilience, Standard Chartered is expanding its sustainable, trade and  infrastructure finance. The Bank financed $US 4billion worth of infrastructure projects in  Africa last year, including arranging a $US455 million blended finance facility [backed by the  African Development Bank] for Côte d’Ivoire; a $US1.47 billion solar-powered electricity  distribution in Angola and $US1.46bn term loan for Tanzania’s Standard Gauge Railway.  Further, Standard Chartered has signed $US70 million and $US100 million trade finance  deals with International Finance Corporation [IFC] and British International Investment [BII],  respectively, to empower local enterprises across Africa to trade, bolstering the continent’s  financial resilience. 

Dalu Ajene, CEO of Standard Chartered Nigeria Limited and host of the summit in his  opening remarks, said, ‘Africa’s potential is not a question of “if,” but of “how fast.” And  Nigeria, with its dynamic entrepreneurs, world-class institutions, resilient private sector, and  youthful energy, continues to be a key driver of this momentum. At Standard Chartered, we  are proud of our long-standing presence across Africa and are resolute on our commitment  to driving commerce and prosperity through our unique global network.’.  

In his keynote address titled, Tilting Global Capital for Unlocking Investment Opportunities In  Africa; outgoing President of the African Development Bank Group, Dr. Akinwumi A.  Adesina said, ‘It is clear that Africa is a profitable investment destination with vast  opportunities for investors.

The continent has demonstrated incredible resilience, and its future will be powered even more with financial innovations and strategic partnerships to  tilt more global capital to the continent. Africa must attract global capital at scale. This is  urgent given the rapid scaling back of traditional aid flows and lower concession financing  flows and the direct and indirect effects of the US tariffs on export revenues and foreign  exchange reserves. To achieve faster and more stable economic growth, Africa must move  away from aid to investment to unlock its vast assets. And Africa has all it takes to achieve  this bold ambition.’ 

On the role of the government in strengthening economic growth for Nigeria, Dr Jumoke  Oduwole Honourable Minister, Federal Ministry of Industry, Trade and Investment, Nigeria said, “Nigeria is open for business—and we’re backing that message with action. Our focus  is on unlocking trade, attracting investment, and building strong partnerships that drive  inclusive growth and create real opportunities for Nigerians.” 

Kariuki Ngari, Managing Director & CEO of Standard Chartered Bank Kenya and Africa  also added: ‘“Africa’s economic potential is undeniable—and its growing resilience is  evident in the structural reforms we’re seeing across the continent. With bold reforms  underway in several countries, this is a critical moment to invest in the continent’s future— and we are ready to play our part. Our focus is to be a long-term partner in building  sustainable and inclusive economies across Africa.” 

The Africa Summit is a proprietary thought leadership and networking event hosted by  Standard Chartered Corporate & Investment Banking (CIB). It is a flagship Africa CIB thought  leadership event that brought together over 350 stakeholders to discuss topical subjects and  their relevance towards achieving sustainable impact on the African continent.

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