Speaking at the end of a three-day country visit to Malawi in Lilongwe, Borha said the bank is committed to building strong and sustainable relations with customers and other stakeholders at key levels over the long term.
“The long-term relationships we build at Standard Bank go beyond ordinary transactional relationships. We prefer a deeper understanding of our customers’ business needs, we want to know their family, we want to know their eco-system and tailor solutions relevant in their space,” Borha said.
Borha also said Standard Bank is keen to grow the informal sector as a means of contributing to the country’s economic growth.
She said Malawi’s vast informal sector could be an opportunity if efforts to formalize the sector were scaled up.
“One of the challenges in trading in Africa is the large amount of cash in the system (the large informal sector) and a lot of trading takes place across barriers that we can collectively bring in that informal sector into the formal sector either through corporate eco system, so our suppliers, employees or our distributors get more and more into the formal sector to intermediate formally, “she added.
The Group CEO added, “And from our own side, having the capacity to make banking much more simpler and readily available to clients, I believe that will be a good move towards growing the economy.”
While in the country Borha interacted with customers during a client breakfast in Lilongwe.
Borha, a Nigerian, is rated as one of Africa’s top female bankers and was appointed to her current role in 2017 after serving Standard Bank for two decades during which she rose through the ranks.