FirstRand Bank is the first bank from Africa to be granted a full-scale commercial banking licence in India. Our Indian branch, based in Mumbai, primarily focuses on investment banking, fixed income, currency and commodity products, trade finance, debt capital markets, as well as other structured products. The branch provides services to Indian corporates who are looking to do business in Africa and African corporates who are looking to do business in India.
Since 1990, bilateral trade between India and Africa has flourished – particularly in the sub-Saharan African region where countries like Nigeria, Angola, the DRC, Tanzania, Mauritius and Kenya continue to enjoy very strong export and import trade volumes with India.
In one of the largest single investments by an Indian company in Africa, RMB acted as merchant bank, guarantee provider and FX counterparty for Cipla India’s acquisition of 100% of Cipla Medpro South Africa.
*Source: “EY Attractiveness Survey, Africa 2014”