5 Best African Stocks to Invest In

3. Standard Bank Group Limited (JSE: SBK.JO)

Standard Bank Group Limited (JSE:SBK) is a financial services company that was founded in 1962 and offers lending, money transactions, savings accounts, savings accounts, insurance, and other advisory services. The company operates in over 30 countries including 17 in Africa and is the largest African bank based on assets. Standard Bank Group Limited (JSE:SBK) ranks 3rd on our list of the 10 best African stocks to invest in. The company continues to acquire innovative solutions to increase its assets. In 2020, the company made a purchase of 35% equity stake of TradeSafe Escrow.

TradeSafe Escrow is an online platform that safeguards buying and selling through online transactions. The acquisition will allow its users to utilize the commodity and M&A transactions that will be offered on the platform. For the full year 2020, the company reported group headline earnings of $1.11 billion, a 43% decreased from the prior year.