Global Finance honours Stanbic bank
Thursday, April 20, 2017
Gabaraane
The accolades were announced by renowned Global Finance magazine, as part of its twenty-fourth annual awards for the World’s Best Banks.
The Group also celebrates achievements in Malawi, South Africa, Mauritius and Namibia, with Standard Bank Group members taking home the title of Best Bank in those markets too. This is a true testament to the strength, expertise, and insight driven approach across the Group, and which are felt in each of the markets in which it operates.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...