Standard Bank granted Angola banking licence

JOHANNESBURG: Standard Bank has been granted a banking licence in Angola. It plans to start operating as a full-service bank in Angola by mid-2010. The banking licence was granted by the Angolan Council of Ministers at the weekend. Standard Bank has been waiting for a banking licence since May 2008.

Says Clive Tasker, chief executive, Standard Bank Africa: “Angola is an extremely important market for Standard Bank. It offers a great many exciting opportunities in a number of crucial industries, including oil and gas, mining, agriculture and general commerce.”

He said Standard Bank planned to open a full service bank in Angola with an emphasis on corporate and investment banking. “We plan to be up and running by the middle of 2010.”