Citigroup said on Wednesday it has opened a China desk in South Africa, to support Chinese companies expansion on the continent.
The desk will work with trade and investment flows in and out of China, and help Chinese firms as they expand overseas, the US financial services firm said in a statement.
International banks are increasingly looking to trap trade between Asia and resource-rich Africa. HSBC, Europe's largest lender, is in talks to buy up to 70 percent of Nedbank, South Africa's fourth-largest lender.
Standard Bank, South Africa's largest bank, is 20 percent owned by Industrial and Commercial Bank of China.
Citigroup has similar China desks in the United States, Europe, Asia and the Middle East. - Reuters