{"id":8125,"date":"2012-02-19T14:14:31","date_gmt":"2012-02-19T12:14:31","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-japans-mizuho-to-cooperate-with-stanbank-sources\/"},"modified":"2012-02-19T14:14:31","modified_gmt":"2012-02-19T12:14:31","slug":"update-1-japans-mizuho-to-cooperate-with-stanbank-sources","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-japans-mizuho-to-cooperate-with-stanbank-sources\/","title":{"rendered":"UPDATE 1-Japan’s Mizuho to cooperate with StanBank-sources"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Mizuho, StanBank to cooperate in corp lending<\/span><\/p>\n

<\/span><\/p>\n

* Japanese lenders have been slow to target Africa<\/p>\n

(Adds details and background)<\/p>\n

<\/span><\/p>\n

By David Dolan and Taiga Uranaka<\/p>\n

<\/span><\/p>\n

JOHANNESBURG\/TOKYO, Feb 19 (Reuters) – Japan’s Mizuho
\nFinancial Group will sign an agreement to cooperate
\nwith South Africa’s Standard Bank in corporate lending
\nas early as this week, according to two people familiar with the
\nmatter.<\/p>\n

<\/span><\/p>\n

The non-exclusive agreement will focus on bringing more of
\nMizuho’s Japanese clients to Africa and Standard Bank’s clients
\nto Japan, said one of the people, both of whom declined to be
\nidentified because the information is not public.<\/p>\n

<\/span><\/p>\n

A spokesman for Mizuho declined to comment. A Standard Bank
\nspokesman said it would “not be appropriate” to comment.<\/p>\n

<\/span><\/p>\n

The tie-up could be a sign that Mizuho – Japan’s
\nsecond-largest lender by assets – is becoming more serious about
\ndoing business in Africa.<\/p>\n

<\/span><\/p>\n

Mizuho is the only one of Japan’s three “megabanks” without
\na presence on the continent. Rivals Mitsubishi UFJ Financial
\nGroup and Sumitomo Mitsui Financial Group both
\nhave offices in South Africa.<\/p>\n

<\/span><\/p>\n

While global banks are increasingly looking to target trade
\nand deals between Asia and resource-rich Africa, Japanese
\nlenders have been slow to capitalise on Africa’s growth, despite
\ntheir expertise in areas such as project finance.<\/p>\n

<\/span><\/p>\n

Johannesburg-based Standard Bank is Africa’s largest bank by
\nassets, with operations in at least 17 sub-Saharan countries.<\/p>\n

<\/span><\/p>\n

It is 20 percent owned by Industrial and Commercial Bank of
\nChina, meaning that a capital alliance with another
\nAsian bank would be unlikely.\t<\/p>\n

(Editing by David Cowell)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Mizuho, StanBank to cooperate in corp lending * Japanese lenders have been slow to target Africa (Adds details and background) By David Dolan and Taiga Uranaka JOHANNESBURG\/TOKYO, Feb 19 (Reuters) – Japan’s Mizuho Financial Group will sign an agreement to cooperate with South Africa’s Standard Bank in corporate lending as early as this week, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8125","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8125"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8125\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}