Ecobank Nedbank Alliance enables trade and investment pan-Africa

Africa is a continent of opportunity. The world knows it and, increasingly, Africa itself is coming to recognise it. According to Albert Essien, Deputy Group Chief Executive and Group Head of Corporate and Investment Banking of Ecobank, the leading pan-Af

Speaking on the eve of the Ecobank Nedbank Alliance’s annual African Investment Conference, Essien explained that, while unlocking Africa’s many opportunities is not without its share of unique challenges, these can be overcome through a combination of in-depth local knowledge and relevant business and financial acumen.

“Corporations, governments and financial institutions, both in Africa and beyond, are increasingly looking to the Ecobank Nedbank Alliance (“the Alliance”) to provide such insights and capabilities,” Essien comments. “We leverage our unparalleled on-the-ground footprint and expertise to provide our customers with a seamless, ‘one-stop’ experience. As a result, the Alliance is increasingly being seen as an effective enabler and facilitator of pan-African trade and investment.”

His positive sentiments regarding Africa’s potential are echoed by Terence Sibiya, Executive Head: Coverage & Origination at Nedbank Capital. “Globally, few other regions offer the potential for business growth and investment returns that can be found throughout Africa,” Sibiya enthuses, “but many organisations and investors – even those with existing ties to the continent – often find it daunting to do business here.”

He explains that this reticence is most often the result of a combination of factors. “A lack of infrastructural development is still the most obvious hindrance,” he explains, “but in many ways the combination of cultural differences, language barriers and the financial contagion of bad news can be just as crippling as physical constraints to the growth and development of business across the continent.”

According to Smit Crouse, Managing Executive: Nedbank Rest of Africa, Investments Alliances and Strategy, the Alliance’s unique business model, which combines convenient access to transactional banking with localised strategic advisory services, is proving highly effective in helping businesses to overcome these challenges and achieve success in Africa.

“Our ‘one bank’ experience offers our clients the comfort and convenience of a single point of access for their banking needs virtually wherever they are in Africa,” he explains, “while our LocalKnowledgeAfrica advisory service gives them the local market insights needed to establish and grow their business in a sustainable manner.”

Crouse also highlights the Alliance’s potential to promote the far broader spread of development and investment throughout Africa, particularly in countries with perceived language barriers.

“Many of Africa’s Francophone regions have tended to be overlooked as business or investment opportunities because of the perceived language barrier,” he says, “but by working with the Alliance, our clients gain access not only to flexible banking but also to experienced business experts who both speak the language and have a fundamental understanding of the way in which local industries and businesses work.”

He also sees clients’ existing banking relationships with the Alliance as a key enabler of business expansion outside of their home markets. “Whereas new start-ups or expansions in Africa could face difficulties accessing the initial finance needed to establish a presence, the process can be far easier for existing clients of Nedbank or Ecobank who are looking to expand in other African countries,” he says. “Having ready access to reliable transactional banking facilities can also significantly ease the process of setting up a business.”

Ultimately, Essien, Sibiya and Crouse agree that the keys to success in Africa are a carefully considered strategy and an understanding of the way that Africa does business. The Alliance’s ability to advise on both means it is fast becoming the partner of choice for those seeking to unlock Africa’s full business and investment potential.