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Standard Bank tops

img_0122Standard Bank of South Africa has been ranked Africa’s top bank by banking industry publication, The Banker. South Africa’s lenders, for so long the shining light in Africa’s representation in The Banker’s Top 1000 rankings, retain the top spots in the regional list but mostly with falls in their Tier 1 capital, the UK-based international financial affairs publication noted in its report. South African banks, FirstRand and Nedbank Group ranked second and third respectively in the list, which underscores the growth of investment in the Southern African country. According to the UN Conference on Trade and Development (UNCTAD) in its ‘World Investment Report 2014′, there was increase in Foreign Direct Investment (FDI) inflow into Africa in 2013, driven by the Eastern and Southern African sub-regions.

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