DON'T PUBLISH | An interview with Sim Tshabalala: sustainable development and leadership at Std Bank

28 January 2020 - 13:09Africa.com’s Teresa Clark sat down with Sim Tshabalala, the CEO of Standard Bank.

This year’s theme for WEF is around stakeholders for sustainable development. What does that mean to Standard Bank? What are some actions that Standard Bank has taken around sustainability or towards its employees and stakeholders? Thirdly, is risk and conduct. What sort of risk do we take with the capital and deposits that shareholders have given us, and how do we conduct ourselves? Are we treating customers fairly?I think we will have succeeded when people don’t use the word ‘bank’ when they describe us. Standard. Just Standard. You’re the Standard. That’s a good nameAnd last but not least — are our social, economic and environmental commitments.

We have spent a huge amount of money on our core banking system, which is the back-end, so that we can reduce the cost of product and service delivery. And we are partnering with other people so that we too may conduct ourselves as an ecosystem orchestrator, just like the big techs do. Globally it seems as if large banks like yourselves have challenges in figuring out how to be nimble against the fintechs.

And the point really is that when you develop relations with your client and when you enter new territories you have to present yourself as a banking institution; where you can partner with others, and buy into new businesses. The same applies in Nigeria. Standard Bank is the quintessential Nigerian bank. It is seen as such. We conduct ourselves as local. It relates to society in Nigeria and we conduct ourselves as a majority shareholder accordingly. There are benefits to being an international player and that’s why society tolerates us.

I believe that ethics, faith and hope are all interrelated. We then talk about technology and whether there are ethics in tech. Is a spear technology? When is it appropriate to use a spear? During the first, second and third Industrial Revolution those issues rose and these issues are arising today.

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