China is readying to move into Africa on a scale that far outstrips its acquisitions on the continent to date, according to the South African bank that is laying the groundwork.

High-level groups of bankers from Industrial and Commercial Bank of China and Standard Bank, respectively China and Africa’s biggest banks, are examining potential targets in Africa’s oil and gas, telecoms, base metals and power sectors, executives at the Johannesburg-based lender have told the Financial Times.