Namibia and Standard Bank Group: 95 years on

[Standard Bank Team]

It’s been 95 years since we first opened for business in Namibia. How we got there is an interesting tale that started with the First World War

At the height of the war, the Allies gained control of German South West Africa (Namibia) opening up the region to South African business. In August 1915 the South African government granted The Standard Bank of South Africa Ltd permission to open branches at Luderitzbucht, Windhoek and Swakopmund. They were duly opened on 19, 20 and 23 August 1915 respectively.

In 1962 Standard Bank was restructured. Control of all its African interests, except South and South West Africa, was transferred to the parent company in London (Standard Bank Limited – later Standard Chartered Bank). All business in South and South West Africa was administered by the South African arm: The Standard Bank of South Africa Ltd.

On 24 May 1978 Standard Bank South West Africa Ltd (Stanswa) was incorporated as a wholly owned subsidiary company of Standard Bank Investment Corporation. The company was registered as a commercial bank on 6 June 1978 and took over the assets and liabilities of The Standard Bank of South Africa Ltd there on 31 July 1978.

In March 1990 South West Africa became the independent republic of Namibia. On 1 April 1990 Standard Bank South West Africa Ltd's name was changed to Standard Bank Namibia Ltd. On 9 December 1992 Standard Bank Namibia was dual-listed on the Namibia Stock Exchange.

For more on Standard Bank Namibia, see www.standardbank.com.na.