Standard Chartered to offer securities services in South Africa

JOHANNESBURG: Standard Chartered said it has expanded its securities services business into South Africa, offering back office management to overseas investors looking to trade on stock exchanges around the fast-growing continent.

South Africa is the fifth new market that Standard Chartered is offering services such as buying and selling of securities and managing documentation on behalf of corporates since acquiring Barclays' Africa custody business in 2010.

The bank's global securities services business is managing assets worth over $800 billion and is in 10 other African countries such as Nigeria, Ghana, Kenya, Mauritius and Uganda, the bank said in a statement.