Standard Bank wins forex provider award


Standard Bank Group has been named the best foreign exchange provider in Africa at the recent 2016 Global Finance World’s Best Foreign Exchange Providers Awards. This is the fourth successive year for the bank, Africa’s largest by assets, to scoop the Africa category.

Said Lesego Osman, Head of Global Markets in Malawi; “We are delighted to have received this recognition for our work in a field that is so important for maintaining Africa’s economic growth. In Africa, clients value quality service above all else.”

He said Standard Bank’s extensive footprint across Africa and its connectivity to international markets enables it to tap into pools of capital from across the world to boost the continent’s currency markets at a time when liquidity levels across most jurisdictions have come under threat due to weak economic conditions.


“Having built experience across the continent for over 152 years, our on-the-ground presence and local insight help us to connect our clients to opportunities across Africa and beyond,” he said

As a token of appreciation to its customers, Osman said the bank has removed commission on all telegraphic Foreign Currency transfers (TT) for the month of March 2016.

He said the gesture aims to show gratitude for the support from local customers. He said as a result of this support, Standard Bank group has been voted by Global Finance Magazine as Africa’s Number 1 Foreign Currency provider for 2015.


“The support from Malawians has contributed to our success at the group level and this limited offer is our acknowledgement of that. Standard Bank group has consistently gained recognition as the best foreign currency deal maker on the continent,” he said.

Osman said Standard Bank’s group rating on forex provides great opportunity for economies covered by the bank such as Malawi to leverage on.

“Malawi stands to benefit greatly from the synergy that Standard Bank group offers in Africa. The country needs to tap into the efficiencies we offer. In Malawi, we have in-house capabilities and people in both Lilongwe and Blantyre who are more than eager to pass the benefits of foreign currency services and management to local business,” he said.

The annual Global Finance Magazine Awards recognise the leading players in foreign exchange trading in 95 countries and across 9 global regions. Criteria for choosing the winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. Global Finance also considered input from a panel of experts and feedback from industry analysts, cor porate exe c u t ives and technology specialists.

“We are proud to be the bank that delivers tailor-made and sophisticated forex solutions across Africa. Doing business in the regional and international markets has become easier for our clients because of the linkages that our home team provides,” said Osman.

This is the fourth consecutive year for Standard Bank to be recognised as Best Foreign Currency service provider by Global Finance Magazine.

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