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25 June 2009
Troika Dialog Group MD stresses the value of partnership with Standard Bank
Standard Bank and its Russian strategic partner Troika Dialog Group have emphasized the value of their partnership in leveraging Russia-Africa trade flows. This follows a visit to Namibia by Andrei Sharonov, Managing Director of Troika Dialog Group. Sharonov is part of a high-profile delegation led by Russian Federation President Dmitry Medvedev that is visiting Africa.
A highlight of the visit by Russian President Dmitry Medvedev and his entourage of leading Russian business representatives is the opportunity it provides local business people to meet their counterparts and leading bankers from Russia. This allows them to better explore opportunities available through Russia-Africa trade.
Troika Dialog Group is the most established and largest independent investment bank in Russia.
Standard Bank recently announced that it will be entering into a strategic partnership with Troika Dialog under which Standard Bank intends, subject to regulatory approvals, to become a 33% shareholder in Troika Dialog.
"Standard Bank is an emerging markets banking group, and from its position in Africa, is developing businesses in and across the world's other key emerging markets, including Brazil, Russia and China," says Richard Gush, Chief Executive, Corporate and Investment Banking, Standard Bank Africa.
"Russian businesses are interested in partnership opportunities in Africa, both in terms of access to mineral resources as well as participating in power and infrastructure projects," Andrei Sharonov says.
"My trip to Nigeria, Namibia and Angola is meant to introduce members of the Russian delegation to Standard Bank and to explore opportunities for financing Russian companies' projects on these markets. Standard Bank is uniquely placed as the leading bank in Africa and other emerging markets to introduce Troika Dialog to its global network and set of relationships.
"Together with Standard Bank we will work to strengthen and enhance our domestic franchise, as well as create an international platform to connect Russian clients to Africa and other emerging markets," Andrei Sharonov says.
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