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Standard Bank wins best forex provider in Africa

Written by  Gladys Nthenda

Standard Bank Group has been named the best foreign exchange provider at the recent 2016 Global Finance World’s Best Foreign Exchange Providers Awards the fourth year in a row.


As a token of appreciation to its customers; the Bank has announced removal of commission on all telegraphic Foreign Currency transfers for the month of March 2016.


Head of Global Markets Lesego Osman pointed out that its global rating on forex provides great opportunity for economies covered by the bank such as Malawi to leverage on.


He said the development tasks them to maintain the levels of service and expertise the bank has when it comes to foreign exchange and that its ambition is to maintain this position.


 “It requires us to constantly increase the bar. Indirectly by us trying to raise the bar clients will be direct beneficiaries of the expertise we boast of in the markets and pass on to share with our clients” Boasted Osman.


Osman acknowledged the volatility the Malawi market faces in terms of forex shortages which he said has not spared the bank as a participant in the financial market.

“It’s our expertise and knowledge which allows us to mitigate our clients from the negative impact that this may have on them and their businesses” said Osman.


Commenting on how the bank has fared so far, Osman explained that the beginning of the year is generally a bit slow but they expect things to improve when the auction floors open as more economic activities will pick up.


The annual Global Finance Magazine Awards recognizes the leading players in forex trading in 95 countries and across 9 global regions.


Criteria for choosing the winners included transaction value, market share, scope of global coverage, customer service and innovative technologies among others.

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