JOHANNESBURG, June 18 – Standard Bank Group is intensifying its efforts to expand business banking operations across Africa, targeting a revenue opportunity estimated at R250 billion (about $15 Billion) as intra-African trade accelerates and the continent’s small and medium-sized enterprises continue to grow.
The bank’s Business and Commercial Banking (BCB) division is positioning itself as a leading financial partner for companies operating across Africa’s fastest-growing economies, with a particular focus on South Africa, Nigeria, Ghana, Kenya, Uganda and Tanzania.
According to BCB Chief Executive Officer Bill Blackie, approximately 85% of the targeted revenue pool is concentrated within these key markets.
The strategy forms part of Standard Bank’s broader ambition to accelerate earnings growth through 2028 by strengthening its presence in the SME and mid-market segments.
Small and medium-sized enterprises account for nearly 95% of active businesses across Africa and contribute up to 40% of the continent’s gross domestic product, making the segment one of the most attractive growth opportunities for financial institutions.
Industry data shows African banks are increasingly investing in SME-focused products and services as competition intensifies for market share in the sector.
Standard Bank currently estimates that the opportunity is split between a R100 billion enterprise banking segment and a R150 billion mid-market segment.
The BCB division serves businesses generating annual revenues ranging from below R100 million to as much as R2.5 billion, alongside selected larger corporate clients.
According to Blackie, the division has delivered significant growth over recent years.
“From 2020 to 2025, we have doubled headline earnings and doubled the return on capital in the business from 19% to 38%,” he said, adding that earnings across the continent grew at an average annual rate of approximately 30% during the period.
A major driver of future growth is expected to be the continued expansion of intra-African trade.
The implementation of the African Continental Free Trade Area is expected to deepen regional economic integration by creating a single market spanning more than 50 countries and over 1.3 billion people.
According to estimates from the World Bank, the agreement could more than double intra-African exports by 2035.
Standard Bank believes this trend will generate increased demand for trade finance, foreign exchange services, payments solutions, cash management and working capital facilities.
“The biggest trade bloc for us today is trade into the continent, and it continues to be the fastest-growing trade segment,” Blackie said.
The bank also plans to leverage its strategic relationship with Industrial and Commercial Bank of China (ICBC) to help African businesses access opportunities in China, the world’s second-largest economy.
Despite its continental ambitions, South Africa remains Standard Bank’s strongest market.
The lender currently holds approximately 21% of the country’s small business banking segment and 28% of the mid-market sector, making it the market leader in the latter category.
However, competition is intensifying from rivals including Capitec Bank, Nedbank Group and FirstRand Group.
Looking ahead, Standard Bank is targeting annual revenue growth of between 8% and 9% for its Business and Commercial Banking division through 2028, with expectations that growth could reach double digits as regional trade and economic activity continue to expand.
The strategy underscores the growing importance of Africa’s SME sector as a driver of economic growth and highlights the increasing role banks are expected to play in financing the continent’s next generation of businesses
