South Africa's Standard Bank Group Ltd. has opened its first representative office in Egypt, expanding its African footprint as Cairo looks to strengthen trade and investment ties across the continent, according a ministry statement on Saturday. Egypt's Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat, who attended the launch near the Pyramids, said the move underscores rising confidence among global investors in Egypt's economic outlook. The opening comes as the government pushes ahead with structural reforms aimed at improving macroeconomic stability and attracting foreign capital. "Standard Bank's presence in Egypt enhances the country's connectivity with African markets and boosts opportunities for cross-border trade and investment," Al-Mashat said. The bank's extensive network across more than 20 African countries is expected to help link Egyptian companies to new markets, particularly in Sub-Saharan Africa under the African Continental Free Trade Area (AfCFTA). The minister noted that private investment has climbed to more than 50 per cent of total investment, driven by ongoing reforms and efforts to create a more competitive business environment. She said Egypt continues to court international investors through partnerships with major financial institutions, which provide new channels for financing and job creation. Al-Mashat highlighted the strength of Egypt's banking sector, describing it as a key anchor of economic stability as the government works to modernise monetary and fiscal policies. Improved economic indicators, she said, reflect the impact of policy reforms aimed at increasing resilience and attracting long-term investment flows. Standard Bank, Africa's largest lender by assets, operates in over 20 markets and maintains global hubs in Dubai, New York, Beijing, and London. Attribution: Amwal Al Ghad English
