Standard Bank’s BCC division aims to ignite East African business growth

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SPONSORED | The bank is building a capital and capability ecosystem that supports small traders, agribusinesses and entrepreneurs through hassle-free digital banking

The bank is building a capital and capability ecosystem that supports small traders, agribusinesses and entrepreneurs through hassle-free digital bankingWhile facilitating cross-border trade, Standard Bank can identify opportunities for the development of local manufacturing in East Africa. Picture: 123RF

Standard Bank’s Business & Commercial Clients division is building a capital and capability ecosystem to help small traders, agribusinesses, emerging manufacturers and entrepreneurs grow into formal enterprises. These enterprises can also become national corporations or cross-border multinationals.By understanding business networks, Standard Bank can use its platforms to build capacity among local client teams while unlocking growth in their broader ecosystems.

As a result, more local exporters have branded boxes made to order at home, at a fraction of the cost of imported products. In East Africa, BCC’s digital capability is providing a deeper understanding of clients and the ability to remove friction more effectively. Unayo, a platform-based payment service that any trader, entrepreneur or business can use even if they don’t have a bank account. All they need is a phone.

In Zambia, Standard Bank launched a platform linked to key suppliers that allows small traders to access stock loans daily. This means they never need to leave their stores to place orders or travel to the bank to get loans or manage their daily cash. Everything happens digitally. In Africa, growth finance is more than just a loan. For some businesses, finance is needed to buy stock.

 

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