Banking on Africa
Our operations in Africa have seen us contribute value in countries across the region, directly and indirectly creating jobs, strengthening trading ties and broadening access to financial services.
- Supporting 1.9 million jobs in Sub-Saharan Africa through direct and indirect impact - that's around 0.6% of the region's total workforce
- Contributing 1.2% of the region's GDP - USD10.7 billion of value added to the economy
- Providing financing support to African trade, to help connect the region with world markets: in 2013 we supported trade worth USD7.2 billion
- Bringing innovation to the region - we established the first digital branches across several markets, and in Ghana and Kenya were the first to introduce interest rate swaps.
Lack of investment in infrastructure has left much of Sub-Saharan Africa with an insufficient and unreliable power supply, hampering long-term growth. Our goal will be to build on existing collaborations with the international community to improve local infrastructure.
The report has highlighted how small and medium-sized enterprises (SMEs) are powerful job creators within the region, and we'll invest time in engaging and supporting SMEs by providing greater access to value chain finance.
About our report
The study, led by Professor Ethan Kapstein of Georgetown University in Washington DC, and René Kim, a partner at consultancy firm Steward Redqueen, was commissioned to measure our social and economic impact in Sub-Saharan Africa. It used data from our operations in Angola, Botswana, Cameroon, Cote d’Ivoire, Ghana, Kenya, Nigeria, Sierra Leone, Tanzania, The Gambia, Uganda, Zambia, and Zimbabwe.
It's part of a series of impact studies, to measure our impact on the economies where we operate and identify ways to build on this impact.
We've commissioned a series of independent reports to measure our social and economic impact.
The Africa opportunity
With over 150 years in Sub-Saharan Africa, we have an intimate knowledge of the region.
Here for good
It’s about sticking by our clients and customers, and always trying to do the right thing.