Standard Bank targets $15.4bn expansion in Nigeria, African SME markets (opens original article in a new tab)

Standard Bank Group plans to expand its investments in African SME markets with $15.4 billion, targeting 8-9% annual growth through 2028 and focusing on key African countries.

• Standard Bank plans to invest $15.4 billion in African SME markets, focusing on Nigeria, Ghana, Kenya, Uganda, and Tanzania.
• The bank aims for 8-9% compounded annual growth in business and commercial banking by 2028, with expectations of exceeding targets.
• Standard Bank's business and commercial banking unit doubled earnings and return on capital since 2020, with 30% annual growth averaged over the period.