According to Forbes, Standard Bank is “the largest lender in Africa”, as the banking group launched the game changing forex trading app in 2017 – Shyft. This position of largest lender is backed by 157 years of lending money to business owners and individuals.
Global consensus is that the purpose of business is profit and sustainable growth, as much as it is solving problems or providing desires for customers. This is the essence of entrepreneurship, all funded by an investor. In Africa, the largest formal investors in small businesses after banks; therein Standard Bank is the standard of banking.
Okay, moving forward!
In South Africa, as is in all their markets, when looking for a business loan, if you meet the Standard Bank “requirements and standards” for a business loan, then know that you can get capital from any institution in anywhere. Standard Bank has a meticulous, yet development centric screening process that is worth considering going through when looking for capital for a business venture, no matter the size.
When a business owner is looking for a bank loan, most tend to select banks that are convenient as opposed to those with detailed integrity checks, especially regarding financial records and planning.
In business, financial planning and financial records are very important to investors; hence keep them, and pay attention to them, because banks, just like any other investor, pays attention to them. South Africa has a good score in Africa on the Ease of Doing Business Index, especially on Getting Credit. Hence it is very relatively easy to get a loan in South Africa, but, for business, put yourself in the shoes of an investor; would you give your funds easily without assurance that the business is not only viable, but those running it know all things possible about managing money?
Enter Standard Bank.
Let’s review Standard Bank, not only because of their age and market leadership as largest bank lender in Africa, but also considering futurist record-breaking moves like being the first bank in Africa to go onto the Amazon Web Services (AWS), global cloud business services by Amazon.com, and also frontier products like Shyft. Despite being traditional, they have secured their presence in tomorrow’s e-commerce world, giving them ability for unfathomable integration, merger, and diversification of banking and investment services.
Read more in Cabanga Magazine.
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