RMB to facilitate business flows into Africa through US and India presence – FNB Mozambique

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RMB to facilitate business flows into Africa through US and India presence – FNB Mozambique

12:07 CAT | 17 Feb 2023

Image: FNB Mozambique

Rand Merchant Bank (RMB), the corporate and investment banking arm of FirstRand Bank Limited – of which FNB Mozambique is also a division, has established a New York based representative office to facilitate greater US business flows into the African continent. Meanwhile, in another geography, FirstRand’s corporate finance business in India has been transferred to RMB and will now operate under the flagship RMB brand. All the necessary regulatory approvals have been granted for both operations.

Said RMB CEO Emrie Brown:” Foreign investors are increasingly turning to Africa, with its vast natural resources, extensive markets, young population, and excellent technological prospects. The African Continental Free Trade Area agreement will also ease access into Africa, stimulate intra-regional trade and boost growth.”

Brown added that RMB’s US representative office will work with US-headquartered multinational corporations with African subsidiaries, non-governmental corporations, as well as US corporates with no African presence that intend to engage in business or establish themselves in African countries. RMB’s product and services offering will include the full spectrum of corporate and investment banking products such as advisory, lending, equity and debt capital markets, custody, foreign exchange (FX), derivative hedging instruments and cash management. These will be offered across multiple sectors and industries in sub-Saharan Africa, such as mining and minerals, logistics, consumer goods, fintech, healthcare, energy and infrastructure.

In India, RMB will continue offering merger and acquisition and capital-raising advisory services. Key focus sectors here include consumer, healthcare, industrials, clean energy, financial services and the new age tech/digital ecosystem.

“RMB has exceptional talent, focused on providing clients with distinctive service and deep African expertise. We are passionate about entrenching ourselves in the new jurisdictions in which we choose to operate – and about having a positive impact on the business of our clients we serve,” concluded Brown.

FNB Mozambique Head of Corporate and Investment Banking, Janine Goosen said: “The US and India offices will link the in-country investors with Africa’s extensive business opportunities, including those presented by Mozambique. As an established, on-the-ground corporate and investment bank with offices across the African continent, RMB understands the challenges and regulatory environments for business success in Africa. We are particularity well-placed to drive investment into the continent thanks to the advisory expertise and support developed within RMB.”

Janine added that the new offices will enable RMB to spend more time with key corporate and institutional decision-makers and facilitate assistance and communication with US and India corporates looking to expand into Africa.

Source: FNB Mozambique / Press rRlease