Standard Bank sees Angola as key growth market

South African Standard Bank hopes to open for business in Angola by mid-year when it will be interested in any sector consolidation and set to act as a link between the country's resources and China and Russia. Warming relations between Angola and South Africa and the ties Africa's biggest bank by assets has with China and Russia -- rivals in attempts to secure access to Angolan resources -- should help the new business, a senior executive said. Angola rivals Nigeria as Africa's biggest oil producer and is the world's fifth biggest diamond producer. It is the third-biggest economy in sub-Saharan Africa, behind Nigeria and South Africa.