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Rand Merchant Bank (RMB) on Monday announced it is now operating from a New York-based representative office, to facilitate greater US business flows into the African continent. RMB’s parent, FirstRand Bank, said the bank has received all necessary approvals from the United States Federal Reserve Board and New York State Department of Financial Services.

According to RMB CEO Emrie Brown, foreign investors are increasingly turning to Africa, with its vast natural resources, extensive markets, young population, and excellent technological prospects. The African Continental Free Trade Area (AfCFTA) agreement will also ease access into Africa, stimulate intra-regional trade, and boost growth.

“The new office will link investors in the United States with Africa’s extensive business opportunities,” said Brown. “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 particularly well-placed to drive investment into the continent thanks to the advisory expertise we have developed since RMB’s establishment in 1984.”

Brown added that the bank will work with US-headquartered multinational corporations with African subsidiaries, non-governmental corporations, as well as US corporates with no African presence that intend to engage in business or establish themselves in Africa.

Albert Maartens, who heads the new US operations, said that the new office will enable RMB to spend more time with key corporate and institutional decision-makers and facilitate assistance to and communication with US corporates looking to expand into Africa.

According to a statement sent to Financial Nigeria, RMB’s product and services offering will include the full spectrum of corporate and investment banking products such as M&A advisory, lending, equity and debt capital markets, custody, foreign exchange (FX), derivative hedging instruments, and cash management. These will be offered across multiple sectors and industries in sub-Saharan Africa, such as mining and minerals, logistics, consumer goods, fintech, healthcare, energy, and infrastructure.

RMB is a leading African corporate and investment bank and part of the largest financial services group (by market capitalisation) in Africa – FirstRand Bank Limited, which is wholly owned by FirstRand Limited.