Africa’s growth now ‘structural, not cyclical’ as intra-continental trade leads —Standard Bank says

Standard Bank opened its third Africa Unlocked conference on Thursday, declaring that Africa’s economic momentum has moved from cyclical recovery to a structural shift powered by African enterprise and capital.

The two-day gathering in Cape Town, South Africa has brought together clients from across the continent and abroad, including London and China, under the theme: “Built in Africa: Amplifying Continental Growth.”

Senior leadership in attendance included Chairperson Nku Nyembezi, Group Chief Financial Officer Arno Daenke, Standard Bank South Africa Chief Executive Officer David Hodnett, Africa Regions and Offshore Chief Executive Officer Lungisa Fuzile, and Group Head of People and Culture Sharon Taylor.

MeTL Group Chief Executive Officer Mo Dewji was also welcomed as a special guest.

Bill Blackie, Chief Executive Officer for Business and Commercial Banking said the theme reflected growth shaped by African enterprise, African capital, and African conviction, built steadily across sectors, borders and generations.

Blackie noted that while US tariffs were at century highs and Middle East conflict continues to disrupt energy and shipping, Africa wass still expected to grow at approximately four percent this year.

“Today, Business Banking clients trade more with each other across this continent than with any single external partner—more than with China, the United States or the European Union. Their most important trade partner is each other,” he stated.

Blackie said supporting data included intra-African trade reaching approximately $220 billion last year, a rise of more than 12 percent, with 47 countries now part of AfCFTA. Pension assets on the continent were also put at over $1 trillion.

“Growth is Amplified in business ecosystems. When we understand the networks around a client and support them across relationships, platforms and structures, we help value move across borders, sectors and stages of growth,” he noted.

“Africa holds approximately sixty percent of the world’s best solar resources and the critical minerals needed to drive the global energy transition. That endowment is beginning to translate into industrial advantage,” Bkackie added.

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