Standard Chartered Bank has announced the launch of Securities Services in South Africa, expanding the Bank’s existing regional securities services to the largest economy on the continent.

South Africa is the 5th new market in which Standard Chartered has launched securities services since the Bank’s acquisition of Barclay’s Africa custody business in 2010. This expansion aligns with Standard Chartered’s ambition to be the preferred provider for Investors and Intermediaries across Africa.

With South Africa, the Bank will now offer securities services in 11 African markets (Botswana, Ghana, Kenya, Mauritius, Nigeria, Tanzania, Uganda, Zambia, Zimbabwe, Cote d’Ivoire, South Africa) with indirect capabilities in a further 6 markets through an integrated network of agent banks (Egypt, Malawi, Morocco, Namibia, Tunisia and Rwanda).

In line with regulatory requirements, the Bank’s license to operate as a Central Securities Depository (CSD) Participant was approved by the Controlling Body of Strate Ltd, South Africa’s authorized CSD and the Financial Services Board.

Monica Singer, Chief Executive Officer of Strate  commented, “We are pleased to add another international bank to our list of approved securities service providers in South Africa, providing investors with a further reputable service provider in the securities arena.”

“With South Africa’s regional and multi-national companies increasing at a rapid rate, Standard Chartered’s launch of Securities Services will bring added value and choice to new and existing investor clients.

This product launch compliments our regional capabilities and centres of expertise already based in Johannesburg, which includes  Global Cash Management and Trade Finance, Project Finance, Private Equity, Corporate Advisory Services, Foreign Exchange, and Global Markets.

With our international footprint focused on developing and emerging markets across Africa, Asia and the Middle East, it remains our priority to encourage, facilitate and support sustainable investment across these key growth markets,” remarked Ebenezer Essoka, Chief Executive Officer and Area General Manager of Southern Africa.