Stanbic Botswana scoops best bank award
Wednesday, December 07, 2011
Parent company, Standard Bank was also named 2011 Bank of the Year in Africa for its ability to gain strategic advantage, adapt to variable market conditions, secure important deals and succeed in an increasingly competitive landscape. In addition to Bank of the Year in Africa, The Banker named Standard Bank as Bank of the Year in Lesotho, Malawi and Zimbabwe. Ben Kruger, Deputy Chief Executive, Standard Bank Group said of the awards: "Standard Bank has a deep and long-standing commitment to developing business in Africa. We are delighted with this recognition of our ability to connect Africa and the world."
He believes the awards reflect the group's continued growth across the continent and its substantial investment in the development of local presence and infrastructure.
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...