Standard Bank, Africa’s largest lender by assets, has set its sights on Egypt.
In an interview with Al-Ahram Weekly during the launch of the bank’s representative office in Cairo last week, Sim Tshabalala, CEO of the Standard Bank Group, explained why Egypt is central to its continental strategy, how it assesses the country’s economic reforms, and what opportunities lie ahead.
“It’s not a single event. It’s a process,” Tshabalala said, noting that Egypt has become progressively more integrated with Africa while remaining deeply connected to the Middle East and serving as a vital bridge to the Gulf Cooperation Council (GCC) states.
He described Egypt as a large and fast-growing economy, Africa’s biggest by purchasing power parity (PPP), with expected medium to long-term growth of around four to five per cent. Strong fiscal and monetary policies, an independent central bank, and improved regulation, he added, provide solid foundations for sustained prosperity, while gradual privatisation through the country’s Sovereign Wealth Fund should deliver meaningful results over time.
Standard Bank positions itself as a connector between Africa and selected emerging markets and global capital centres to enable balanced, diversified growth. On 30 June this year, the group reported total assets of $191.8 billion, served 19.2 million customers, employed more than 50,000 people, and operated over 1,180 points of representation and more than 5,400 ATMs across the continent.
This footprint and product suite equip the bank to support cross-border trade and project finance and carry out corporate expansion across regional value chains.
Tshabalala clarified that the bank’s Cairo office will focus on building relationships with Egyptian corporates that have, or seek, interests in Sub-Saharan Africa rather than competing directly with domestic banks.
Standard Bank offers tailored products and advisory services to firms in infrastructure, energy, oil and gas, tourism, pharmaceuticals and telecoms, all sectors where it has depth, and it could expand its licence in the future to serve companies operating in Egypt directly.
Egypt’s appeal today reflects a decade of economic reform aimed at stabilising macroeconomic fundamentals and attracting foreign investment. Key measures include fiscal consolidation, steps towards exchange-rate liberalisation, targeted investment incentives and efforts to develop Egypt as a regional hub for energy, logistics, and trade.
The authorities have also advanced a privatisation programme, partly administered through the Sovereign Wealth Fund, to transfer selected state assets to the private sector, improve efficiency, and mobilise capital for infrastructure and industrial projects.
Egypt’s strategic geography reinforces this case, as Egypt links Africa, the Middle East, and the Mediterranean. The Suez Canal, integrated transport corridors, recent upstream energy discoveries, and investments in cross-border power connections strengthen its role as an energy and logistics gateway between Europe, Asia, and Africa.
Tshabalala praised Egypt’s pragmatic foreign policy of strategic non-alignment, saying that the country pursues relationships that serve its national interest rather than ideology. That diplomatic balance allows Egypt to deepen its ties with the EU, the US, the Gulf states, and partners across the Global South, he said, widening avenues for finance, technology transfer, and bilateral investment.
Global investor interest in Africa has surged as markets seek higher growth and access to the critical minerals and resources needed for the energy transition. In this environment, Egypt’s population scale, market size, and transport links make it a natural focal point for companies looking to scale across the continent and to connect African supply chains with global demand.
Following meetings with the governor of the Central Bank of Egypt (CBE) and private-sector leaders, Tshabalala welcomed the authorities’ free-market approach to the Egyptian pound and their focus on policy consistency. He noted that economic cycles are inevitable but argued that long-term policy credibility and institutional strength are what matter most for improving living standards and sustaining investor confidence.
“For Standard Bank, Egypt is a strategic bridge between Africa and the Middle East,” he concluded. “We believe in Egypt; we see opportunities, and we are here for the long term.”
For investors and corporates, Egypt now presents multiple entry points: project finance, trade finance, and cross-border banking can all support regional growth strategies. The combination of ongoing reforms, privatisation pipelines, energy and infrastructure projects, and deepening diplomatic ties creates compelling opportunities for banks, investment funds, and strategic investors seeking diversified exposure to Africa’s growth story.
* A version of this article appears in print in the 20 November, 2025 edition of Al-Ahram Weekly
Short link: