Ndapwa Alweendo
30 June 2009
STANDARD Bank is joining forces with Troika Dialog Group, the largest independent investment bank in Russia, to "create an international platform to connect Russian clients to Africa and other emerging markets," the Managing Director of the Russian bank, Andrei Sharonov, has announced.
Sharonov was part of the high-profile delegation led by Russian Federation President Dmitry Medvedev that visited Namibia last week.
"My trip to Namibia is meant to introduce members of the Russian delegation to Standard Bank and to explore opportunities for financing Russian companies' projects in the country," Sharonov said.
Standard Bank recently announced plans to become a 33 per cent stakeholder in Troika Dialog Group, in one of several proposed business initiatives between the two countries. Sharonov emphasised the interest expressed by Russian businesses in partnership opportunities in Namibia, "both in terms of mineral resources as well as participating in power and infrastructure projects".
The Russian Federation is examining possible future investments in the energy sector, and Namibia's position as one of the world's leading producers of uranium makes it an "attractive potential trade partner," he said.
The Managing Director of Standard Bank Namibia, Mpumzi Pupuma, expressed excitement over the potential for business opportunities created by the planned partnership.
"The Russia-Namibia trade route can now be fully serviced through universal banking capabilities that can be provided by the combined strength of the two banks," he said.
Standard Bank is Africa's largest bank, with a network in 17 African countries and 19 countries outside Africa.
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