Adding value to partnerships: The Stanbic Bank way
As part of his working visit to Ghana, the Chief Executive Officer, Business and Commercial Clients at the Standard Bank Group, Bill Blackie, visited some of Stanbic Bank’s clients to understand their work and the different ways the bank can help in growing their businesses.
One of such businesses visited was Dominion International Petroleum, a petroleum company involved in the downstream oil and gas sector. While at the company, the Stanbic Bank team met with the Chief Executive Officer, Rev. Dr. Gifty Akushika Lamptey and the Managing Director, Mr. David Jones-Mensah, who spoke about Stanbic Bank’s support towards its growth and expansion.
The CEO said “Most banks tend to shy away from supporting new businesses because of the risks involved. Their confidence in such businesses is low and they are overly cautious in their dealings with them. Stanbic Bank, however, took a very bold step in supporting us regardless of the risks and we are truly grateful for the support and partnership.”
Speaking on how significant the support from Stanbic Bank has been, Mr. David Jones-Mensah attributed the sustainability of the company to the partnership with the bank. According to him, “Our growth partnership with Stanbic Bank has been of great benefits. In many ways, it has led to the growth and sustainability of Dominion International Petroleum.”
In his remarks, Bill Blackie expressed his impression about the pace of growth in the economy since he last visited Ghana in 2019. On what makes the bank attractive to its clients, he said the highly capitalized nature of the bank bodes well for investment in critical sectors such as the SME space.
He noted that “The bank will remain an active player in the drive to achieve growth for Ghana and Africa”. He also spoke about some of the initiatives the bank has put in place across its franchises on the continent to ensure that they are contributing to development on the continent. He mentioned some of the initiatives that the Group’s franchise in Ghana, Stanbic Bank, has been engaged in as part of its support to the Ghanaian economy.
Dominion International Petroleum Ltd (DIPL) is a privately held and wholly owned Ghanaian company, registered under the laws of Ghana in 2009 to participate in the downstream energy sector as a bulk distribution oil company. Over the past 13 years, the company has grown to become one of the foremost Bulk Oil Distribution Companies (BDCs) in Ghana.