Brazil has well-developed capability in the oil, mining, manufacturing, agriculture and service sectors. To fuel growth, it is increasing its interests in many regions, notably in emerging markets.
Headquartered in SA, The Standard Bank Group (SBG) is one of the largest banks in Africa by assets and earnings. The group is based in SA and has over 150 years of experience on the continent and is present in 20 sub-Saharan African countries, where it also trades as Stanbic Bank. In Africa, the group delivers Retail, Business, Corporate and Investment Banking. Outside Africa, the Group has operations in São Paulo, London, New York, Dubai, Beijing and Hong Kong, with the objective of fostering business into and across the African continent in a variety of segments including M&M, O&G, P&I and consumer. SBG is rated BB+ by Fitch and Baa3 by Moody's. The Standard Bank employs over 50,000 people around the world.
Standard Bank South Africa (SBSA) is listed on JSE. ICBC, the largest bank in the world, is the largest individual shareholder in SBSA.
The trade volumes between Brazil and South Africa/the African continent as a whole are constantly increasing and so do the activities of SBG with the Brazilian banking system. This increases the importance of offering our Brazilian correspondent banks, and the commercial partners of our South African/African based clients operating in Brazil, a competent contact point in the financial center of São Paulo. Brazil Federal Government is also encouraging national companies to participate Sub Saharan Africa development in order to leverage Brazil GDP growth, e.g., government is providing finance and economic support to trade finance flows, agriculture and infrastructure business that will accelerate trade flows. SBSA's presence in Brazil allows SBSA to better connect Brazil into Africa and vice-versa.
The Representative Office supports Standard Bank of South Africa and its Affiliates in their development of trade finance, investment banking and treasury activities by facilitating relationships between Brazilian clients and the managers of the related departments of SBSA and its Affiliates.