Rand Merchant Bank Establishes US Presence to Facilitate Business Between US and Africa

In a communique issued on 6 February 2023, South African bank Rand Merchant Bank (RMB) announced the opening of its New York branch to “facilitate business flows into Africa.”

RMB’s parent, First Rand Bank has received all necessary permits from the US Federal Reserve Board and NY Department of Financial Services. RMB CEO Emrie Brown underscored that discerning investors are increasingly turning to Africa, with its extensive markets, integrated into a huge single market thanks to the #AfCFTA.

“The new office will link investors in the United States with Africa’s extensive business opportunities. As an established, on-the-ground corporate and investment bank with offices across the African continent, we understand 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 we have developed since RMB’s establishment in 1984.”

RMB CEO Emrie Brown

Brown explained that RMB will target US-headquartered multinationals already having an African presence or planning to enter the African market to take advantage of the opportunities in the emerging market.

Albert Maartens is heading the US branch of RMB and he believes that his bank can assist US corporations in implementing their #AfricaStrategy thanks to the rich experience and extensive footprint of RMB across Africa.

“RMB will be able to act as trusted adviser for our existing and future US clients so that they can take advantage of our innovative product offerings within the environment in which they wish to operate. As a division of FirstRand Bank, we can offer investors longer tenors due to our large capital base, access to deep expertise on the continent, an impeccable compliance record and due diligence skills and processes that are firmly in place.”

RMB NY Branch Head Albert Maartens

RMB’s products and services offering will cover the full gamut of corporate and investment banking such as M&A advisory, debt and equity capital markets, custody services, foreign exchange, derivatives hedging instrument, trade finance and treasury management. The sectors involve mining, logistics, healthcare, energy, infrastructure, #FMCG, #FinTech, and so on.

“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 RMB CEO Emrie Brown. As per its logo, RMB believes it holds ‘the key to unlocking the potential of the African market.’