South Africa: RMB banks on US interest in Africa

By Xolisa Phillip, in Johannesburg

Posted on Monday, 6 March 2023 16:14
Rand Merchant Bank has announced Emrie Brown CA(SA) as the next CEO, taking over from October 2022. (@RMBCIB/twitter) twitter)
Rand Merchant Bank CEO Emrie Brown. (@RMBCIB/twitter) twitter)

South Africa's Rand Merchant Bank (RMB) has its sights on US corporations looking to invest in mining and minerals, logistics, consumer goods, fintech, healthcare, energy and infrastructure in Africa.

RMB, the corporate and investment bank in the FirstRand stable, has set up a US representative office in New York to help facilitate deals between the US and sub-Saharan Africa, the bank says.

The corporate and investment bank’s move comes after US Secretary of the Treasury Janet Yellen conducted a weeklong visit to Senegal, Zambia and South Africa in January. During her tour, Yellen said America’s Africa strategy recognises that the continent will shape the future of the global economy.