info@businessghana.com
Motive Partners has inked a deal with sub-Saharan focused Standard Bank, to augment and extend Standard Bank's innovation agenda and to generate long-term growth and value creation.
Standard Bank has offices in 20 countries in Africa and is the largest bank on the continent. Combine the continent's soaring population with technology, improvements in infrastructure, health and education, and Africa is well positioned to be the next century's economic growth powerhouse, with one in five people globally living in Africa by 2030.
UK Trade Policy Minister George Hollingbery commented, "Following the Prime Minister's trade mission to Africa last summer, it is hugely positive to see new ambitious deals such as that announced today between Motive Partners and Standard Bank. The UK already has substantial trade and investment ties across Africa, with trade between the UK and the continent worth more than £30 billion last year alone, but there is even more potential for other UK businesses to make the most of the rapidly growing opportunities in Africa. Today's deal will also help strengthen our trading relationship with Africa and will go further to fulfil the Prime Minister's promise to be the largest G7 investor in Africa by 2022.
Congratulations to both Motive Labs and Standard Bank on their new partnership, I look forward to seeing the results of this new innovative international relationship in the future."
Motive Labs' innovation model works with its partners to leverage the best of leading institutions in financial services and new entrant technology firms to create new ways to serve customers, operate with efficiency and scale, adhere to an ever-changing regulatory environment and evolve their own models and business lines. Quickly identifying areas of challenge and opportunity will allow both organisations to focus on value-add areas of the business, partnering with and building new technologies to capitalize on those prospects.
Larry McCarthy, Executive, Strategic Investments and Alliances, Standard Bank, commented, "Standard Bank welcomes the opportunity to join the Motive Labs syndicate in partnering and collaborating with leading financial institutions in order to contribute to our core and competitive disruptiveness in furthering our Africa journey."
Alberto Corvo, CEO of Motive Labs, commented, "I am delighted to welcome Standard Bank in to our ecosystem. It is an honour to partner with the continent's leading financial institution and our team are extremely excited to begin working together on a number of identified opportunities. We could not have asked for a better partner in Africa.
With over 30 countries now represented by partners in our ecosystem, we are intensely focused on delivery of new technologies. Our most recent innovation milestone will be announced soon and is something we and our partners are very proud of."
