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Banking

EEMEA Market round-up: Penetrating question about poverty, corruption

The panel for the second session at Standard Chartered’s China and Africa forum had already faced some tough questions on poverty and corruption, so they must have been uneasy when the Standard Chartered banker who popped up at the last minute took an even tougher line.

Did the panel not think that the large amounts of foreign investment pouring into Africa might pose some sort of risk to the troubled continent? Luckily, Standard Chartered’s own head of research for the region was on hand to offer resounding reassurance: “I don’t think so.” Good news for Standard Chartered’s shareholders, following the bank’s June 16 acquisition of a 25% stake in the investment banking First Africa Group Holdings Ltd.

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