Goldman Sachs entered into a partnership with South Africa’s Investec which will allow both companies to extend equities trading to the rest of Africa. The partnership with Investec allows easier access to South African markets for Goldman’s clients while Investec gets access to Goldman’s global footprint.

Goldman Sachs will also offer fixed-income products including forex and South African government securities to corporate and institutional investors in Africa’s second largest economy. The investment banking company had publicly offered support to President Cyril Ramaphosa’s re-election campaign, betting on better economic prospects after the new government takes over.

On Wednesday, Goldman Sachs hosted an investment conference led by the president and attended by public enterprises minister Pravin Gordhan. Investors and South African industry leaders took part in the conference.

“We see tremendous opportunity to better serve local and global clients investing in South Africa and the wider region,” Richard Gnodde, CEO of Goldman Sachs International told South African media. “Africa is a substantial and growing part of our international business and we are excited to connect clients globally with more opportunities across the continent through our expanded hub in Johannesburg,” he added.

With South Africa’s high levels of debt at both sovereign nation and corporate levels, the country is likely to have a vibrant bond market in future. Goldman Sachs wants to be seen as a supporter of South Africa’s growth story.

Analysts believe that the outcome of Golman Sach’s partnership with Investec could be win-win for both the companies as well as South Africa. Goldman Sach’s Sub Saharan African CEO Colin Coleman, who has supported the new government, believes that the structural reforms that the second Ramaphosa government might unleash can drive higher growth rates and more business opportunities for Goldman clients.