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Standard Bank Group, Africa’s largest lender by assets, led by South African banker Sim Tshabalala, plans to launch a representative office in Cairo on Nov. 12, marking a new step in its push to build deeper links across North Africa and expand Africa’s access to global capital.
The Cairo office is designed to support trade and capital flows between Egypt, the Gulf, and Sub-Saharan Africa, while also giving multinationals operating on the continent a stronger entry point into African markets.
The bank applied for a full banking license in Egypt in April 2024. A license would allow Standard Bank to expand beyond advisory support and push deeper into deposit-taking, lending and corporate financing in the region.
Linking Africa to global capital pools
Standard Bank has spent the past two decades building a hub in Dubai, where it sits inside the DIFC. Cairo will now complement that node, and management believes the new office gives clients in Cairo clearer access to liquidity from the Gulf Cooperation Council and Asia.
In a note to clients, the bank said its diversified model, spanning retail, corporate and investment banking, is positioned to benefit from the rise in intra-Africa trade and the increase in Gulf and Chinese capital moving into African infrastructure, energy and consumer growth.
As of June 30, 2025, Standard Bank reported total assets of $195.6 billion and served 19.2 million customers. The bank employs more than 50,000 people across Africa, and operates more than 1,180 service points and roughly 5,400 ATMs. Its largest shareholder is the Industrial and Commercial Bank of China, with a 19.7 percent stake.
A bank with deep African roots
Standard Bank was founded 163 years ago in South Africa. It started expanding beyond Southern Africa in the early 1990s, acquiring ANZ Grindlays Bank operations in eight African markets in 1992. Those units were rebranded Stanbic Bank, which remains a core franchise across the continent.
Standard Bank operates in 21 African markets and four global financial centers, Dubai, New York, London and Beijing, as well as two offshore hubs in Jersey and the Isle of Man. The group is listed in Johannesburg and Namibia.
Today, the group says it views Egypt as a natural next step. Cairo’s role as a commercial gateway for North Africa and the Middle East makes it a crucial link in Africa’s financial map.
Recent moves
Tshabalala continues to steer the group towards impactful investments that drive real growth and long-term value. The bank this week announced a R750 million ($43 million) strategic equity partnership with Airnergize Capital, the clean technology platform owned by New GX.
Beyond this, Standard Bank, with Sim Tshabalala at the helm, has also secured regulatory approval to open a correspondent account with JPMorgan in Angola—restoring direct dollar and euro clearing in one of Africa’s top oil exporters.
